Charming Inverness Home in a Peaceful Setting! Welcome to this inviting 2-bedroom, 2-bath home located in Inverness Acres community (the 3rd bedroom was converted into a living space, but you can restore it back to a bedroom if you desire). This well-maintained property offers 1,356 of comfortable living space with a bright, open layout and a warm, welcoming feel from the moment you step through the double entry front doors. The home features a generous living area filled with natural light, creating an ideal space for relaxing or hosting guests. A separate dining area flows easily into the kitchen, which includes ample cabinetry and essential appliances such as a refrigerator, oven range, microwave, and dishwasher. The layout is practical and functional, making everyday living simple and enjoyable. The primary suite provides a peaceful retreat with its own bathroom, while the additional bedroom offers flexibility for guests, family, or a home office and has direct access to the main bath. A conveniently located laundry area adds to the home’s ease of use. Throughout the interior, tile and updated plank flooring offer durability and low maintenance living. Sliding glass doors from the living room open to the backyard and screened-in porch, which provides room for gardening, pets, or future outdoor enhancements. The property includes an attached two car garage and sits on a quiet unpaved road that adds to the area’s peaceful, rural charm while still being just a few minutes to shopping and everyday conveniences. With public water, an existing septic system (pumped 6/26), and no HOA fees, this home offers both freedom and peace of mind. Energy efficient windows installed in 2022, AC updated in 2021, Electric Panel 2020, Water Heater 2020. This property is great for buyers seeking affordability, comfort, and the opportunity to personalize a Florida home. Whether you’re a first time buyer, downsizing, or investing, this home delivers excellent value in a growing and desirable area. Inverness is a nature rich city, known for its peaceful lifestyle, scenic lakes, and welcoming community atmosphere. It serves as the county seat and carries the nickname “Small Town Done Right.” You’ll be surrounded by natural beauty, including access to the Tsala Apopka Lake chain and the nearby Flying Eagle Preserve, a conservation area popular for hiking, bird watching, and kayaking. Plus, you’ll be just a few minutes from shopping, restaurants and parks and little over an hour to Orlando or Tampa. Don’t miss out, Call 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.
