Located on a Fully Fenced DOUBLE LOT, this charming bungalow has a COASTAL COTTAGE Vibe that YOU'LL LOVE! This Better-Than-New home has been RENOVATED and IMPROVED with UPGRADED Features and Fixtures throughout including FULL SOLAR GRID that will convey to the NEW OWNERS. This UPGRADE TO SOLAR keeps your FPL bills at a bare minimum averaging as low as $20-30 MONTHLY!!! Other SELLER added features include NEW WOOD-PLANK TILE throughout, 11/23 REROOF, 10/22 FENCE, NEWLY PAINTED EXTERIOR and INTERIOR, NEW CEILING FANS AND LIGHT FIXTURES throughout, RENOVATED GUEST BATH and LAUNDRY ROOM. WORK-BENCH IN OVERSIZED GARAGE, BUILT-IN SHELVING in GREAT ROOM and DINING ROOM with Coffee Bar Set-up, SCREENED Lanai with LARGE OPEN PATIO, STORAGE SHED, ETC. VAULTED CEILINGS and thoughtful window placement LET'S THE SUNSHINE IN this LIGHT and BRIGHT home that feels larger than it's LSF suggests! Wainscotting accents add to the CASUAL COMFORT of this lovely home. A Spacious Kitchen with white cabinets and counter bar is PERFECT for those FAMILY GATHERINGS. The SCREENED BACK PORCH adjoins a large 16 x 16 OPEN PATIO and accentuates the HUGE BACKYARD!! MATURE Trees add shade to the front and back adding to the private setting of this BEAUTY! So many features make this truly a MUST-SEE STAND-OUT Property that checks so many boxes. SCHEDULE YOUR SHOWING TODAY- THIS ONE IS REALLY SPECIAL!!
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.
