A price improvement makes this house even more inviting! This spacious house with an open floor plan is in a great location and there is NO CDD to help save you money each month. The floor plan offers plenty of space for everyone and a living space to meet all lifestyles. There are 3 bedrooms, 2 baths with a large owners' suite and private ensuite bathroom. The house features 9'4'' ceilings, which make the living space feel larger. The 17" by 17" ceramic tile throughout the living areas offers an elegant design and easy maintenance. Enjoy Florida's weather, a barbecue and beverage or great conversations while relaxing under the covered lanai. Lounge at the community pool and cabana, or enjoy the sports park and dog park. The kitchen features a modern design, granite counter tops, a large island with a sink, 42 inch stylish gray cabinets with lots of cabinet space. The stainless steel appliances have a modern look with full functionality to prepare your favorite meal. There is a microwave over the range, dishwasher and side by side refrigerator. The house also features a SMART home technology package for your security and convenient living. The house has solar panels with affordable monthly payments. Enjoy fresh, clean water through the house's water softening system. This neighborhood is located close to U.S. Highway 27 with all the stores, restaurants, medical care you might need. Enjoy local parks and outdoor activities on nearby lakes. Orlando's theme parks are a short drive away from your new home. Come and see how this spacious floor plan, great location and NO CDD can help create your Florida lifestyle.
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.
