Simplify your life without sacrificing quality or comfort. Start your next chapter at this move in ready townhome located in the quiet, gated enclave of Oak Ridge in St. Cloud. Enjoy the ultimate low-maintenance lifestyle for those ready to trade yard work for leisure. No stairs to worry about in this thoughtfully designed end unit single-story townhome featuring a split-floor plan for maximum privacy. A tastefully appointed primary bedroom features an ensuite bath with separate sinks and a stand-up shower enclosure. The Two-Car Garage offers plenty of room for your vehicle or golf cart. Enjoy Maintenance-Free Living as the HOA handles the heavy lifting, including complete landscaping and roof maintenance. This is a "lock-and-leave" dream—perfect if you plan to travel or spend part of the year elsewhere. You can simply close the door and know your home is being looked after on the exterior. Enjoy the added security of a gated entrance and a community pool and playground in Oak Ridge, where you are far enough away from the hustle and bustle, yet close enough to every convenience you require. St. Cloud offers a charming, historic feel with modern medical and retail access just minutes away. Spend your afternoons at the St. Cloud Lakefront Park, offering beautiful, paved walking paths along East Lake Tohopekaliga, fishing piers, and sunset views that are second to none. First class health care facilities are nearby including St. Cloud Regional Medical Center and the world-class specialists at Lake Nona’s Medical City, just a short drive away. Conveniently located near the Florida Turnpike and Orlando International Airport you will always be able to travel with ease. To top it off, golf enthusiasts can play at nearby premier courses, including Royal St. Cloud Golf Links, known for its beautiful layout and player-friendly atmosphere. What are you waiting for? Schedule your private showing today!
Roam is your trusted partner for affordable home ownership. We help manage the assumption process from start to finish, enabling homebuyers to easily purchase their next home with a low-interest rate mortgage attached.
To qualify, you must meet the current FHA, VA, or USDA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 580, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50% max under FHA guidelines. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
An assumable mortgage is a type of home loan that allows a homebuyer to take over the existing mortgage terms from the seller, with no cost to the seller. Many government-backed loans, such as FHA and VA loans, are eligible for assumption, and millions of these mortgages are available.
When interest rates on mortgages are high, assuming a mortgage with a rate as low as 2% allows buyers to save up to thousands monthly compared to buying a home with a traditional mortgage at today’s average rates of 7%. A low-rate assumable mortgage could be the key to finding your dream home at an affordable price.
Roam has compiled available listings with low-rate assumable mortgages for you to browse. To get started, enter the city, state, zip code, or school district you’re interested in purchasing in. Utilize the search filters to narrow down your search. Click “Save search” to save your search preferences and activate listing notifications—we’ll email you as soon as new listings match your criteria.
Once you’ve found your dream home and ready to make an offer, schedule a call with a Roam Advisor directly from the listing. Your Roam Advisor will guide you through each step of the process, while also working directly with your agent, the servicer, and the seller to ensure you close on time.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
Yes. Non-veterans can assume a VA loan, provided they meet the lender’s VA criteria. When a qualified buyer assumes a VA mortgage from a veteran or active-duty service member, the seller’s VA loan entitlement remains tied to the assumed loan until the buyer pays off or refinances the loan. This process restores the veteran seller’s entitlement, enabling them to use their VA benefit for a future home purchase.
Yes. All FHA loans are assumable by law as long as the buyer meets the FHA’s credit, income, and qualification requirements and obtain lender approval before assuming the loan (per FHA regulations effected December 15, 1989). Roam makes this process simple for buyers.
Generally, conventional loans are not assumable. In rare cases, a conventional loan may be assumable with lender approval. Use our search tool to find homes with assumable low-rate loans, or reach out to us if you’d like to confirm a specific home’s assumability.
