One or more photo(s) has been virtually staged. Just a stones throw from the resident only Belleair Beach! Live like you are on vacation every day in this lovely home located steps from Belleair beach, only accessible by residents. Enter the foyer through double solid wood entry doors and be impressesed by the full size, completely PRIVATE pool in the center of the home. Open the many sliding doors and make the pool area part of your daily living space. Experience a Resort feel with the ultimate privacy. Solidly constructed, this unique home showcases an eat-in kitchen with diagonally laid tile, solid wood cabinetry, granite counters, stone back splashes, stainless steel appliances, breakfast bar and tray ceilings. The family room features valuted ceilings, a stone wood burning fireplace and inlayed tile work. With 5 bedrooms, there is plenty of space to house family and guests. The fifth bedroom can easily be converted to a game room by stowing the built-in murphy bed to provide even more area to entertain and relax. ALL bathrooms have been recently updated. The two car garage and large circular driveway provides plenty of off-street parking. An additional welcoming feature is that this sturdy home is built up to nearly 10 feet above sea level, yet still constructed on a slab. Located close to shopping, fine dining, community boat ramp, community park and tennis courts. INVESTOR ALERT!! Hot area with rapidly growing equity. Can do a minimal remodel & resell at a price well worth your effort! OR move in as is and live in beautiful Belleair Beach! Some images are virtually staged. Home comes partially newly furnished! Qualified buyers purchasing this home using Simplified Mortgage as their lender can receive a lender credit of $500 for each $100k in loan amount (up to $5000). Lender credit can be used towards closing costs and/or interest rate reduction. This credit is in addition to any concessions negotiated in the transaction.This credit is in addition to any concessions negotiated in the transaction.
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.
