Welcome to the gated Mediterranean inspired community of Bougainvillea Place. This M/I built Braden model was completed in 2019 with a ton of upgrades providing 2139 sf, 3 bedroom, open concept, an additional office/flex space in the front of the home, could easily be another bedroom. Once inside, you will find a very spacious kitchen with stainless GE Profile appliances, a ton of cabinets, a generous amount of prep space and large island with Quartz countertops. The great room opens onto a covered and screen lanai with an exterior extended pavered area and a pond view. The main suite is located at the back of the home and has an additional bonus space, currently a sitting area and could be utilized many ways. You will find spacious walk-in closet with plenty of shelving, the primary bath with double sinks, a large enclosed shower and soaking tub. Two additional bedrooms as well as a large laundry room are in the middle of the home. You will notice the upgraded lighting, fans, custom blinds and certainly appreciate the high ceilings. The home provides a water softener system, a Air Scrubber home air purification system, in-wall pest control and overhead storage is installed in the garage. HOA includes lawn maintenance, irrigation, pest control, clubhouse, fitness center, a seasonally heated pool w/cabanas and a “paw park”. NO CDD fees and NOT in a flood zone. Hard to beat this close in location, just minutes off I-75, exit 224. Bougainvillea Place main gate is near the Ellenton Outlet Mall entrance. Easy access to Bradenton, Lakewood Ranch, Sarasota and all of Tampa Bay. Close to shopping, restaurants, medical facilities, numerous sporting venues and all our beautiful Gulf beaches.
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.
