Home with Bonus Room on Oversized Lot, with detached garage that has bathroom, and sleeping quarters. This 2-bedroom, 1-bath home offers comfort, flexibility, and room to grow. A large bonus room—currently used as a third bedroom—adds versatile living space perfect for guests, an office, or a hobby room. The expansive lot includes a detached garage and a separate workshop with small living quarters attached—ideal for rental income, a home business, or multi-generational living. The detached garage also includes a generously sized concrete slab that extends from the building—perfect for potentially extending workshop, additional outdoor seating, parking, or even a future outdoor kitchen setup. Come update the bathroom the way that you would want it! The kitchen has been updated with nice tall custom wood cabinets and leads out to a screened back porch; a perfect spot for sipping on your coffee or ice cold beverage. Stepping outside- situated on an oversized lot, this charming property features a completely fenced yard adorned with mature tropical plants, palm trees, and majestic oak that shades a cozy fire pit—perfect for relaxing evenings under the stars. Cool off in the above-ground pool or gather with friends in this spacious yard for ultimate outdoor enjoyment. Located just minutes from multiple boat ramps, you’ll enjoy easy access to Lake Panasoffkee—famous for some of the best fishing in Florida. From the lake, travel down the scenic Withlacoochee River, known for viewing native wildlife in their natural habitat and seeing the beauty of old Florida. Embrace small-town charm with the added convenience of being only minutes from The Villages, where you'll find free nightly entertainment, world-class golf, shopping, dining, and more. You’re also just a short drive to Florida’s beautiful west coast, offering waterfront dining, pristine beaches, kayaking adventures, fishing spots, and refreshing natural springs for unforgettable weekend getaways. With quick access to I-75 and the Florida Turnpike, travel to Orlando’s theme parks and major airports is seamless. This home is the perfect blend of comfort, privacy, and access to the best of Florida living. Equal Housing Opportunity
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.
