Welcome to this stunning and updated concrete block home, West of the Trail in Nokomis! **No flooding through any storm - home is elevated!** This beautiful property boasts an array of impressive features that are sure to capture your attention. Situated on a corner lot and conveniently located near all the amenities you desire. **No HOA and No Deed Restrictions** With a spacious floor plan spanning 1,540 square feet, there's plenty of room for both relaxation and entertainment. Step inside and be greeted by the warm and inviting atmosphere that permeates throughout the entire home. The layout ensures maximum privacy, allowing you to unwind and enjoy your own personal oasis. The two bedrooms provide ample space for comfortable living, each offering a peaceful retreat after a long day. Updated bathrooms feature new vanities that exude elegance, while the tastefully updated kitchen showcases modern finishes such as granite counters, subway tile backsplash and fantastic appliances. Prepare culinary delights with ease and style in this well-appointed kitchen. **New Roof in 2022/2023** **Hurricane Impact Windows** **A/C 2024** **Vinyl Fence 2021** As you explore further, you will notice the fresh flooring in select rooms, adding a touch of sophistication to the overall aesthetic. The vinyl fence surrounding the property offers both security and privacy, allowing you to fully enjoy your outdoor space. Located in Nokomis, this home provides easy access to nearby shopping centers, restaurants, parks, and stunning beaches. Enjoy the best that Florida has to offer just moments from your doorstep. Don't miss out on this incredible opportunity to own a beautifully updated home that truly is move in ready. Schedule a showing today and make this property your own!
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.
