Nestled on an oversized lot in the highly sought-after Ridge Harbor community of Punta Gorda, this beautifully maintained 3-bedroom, 2-bath home offers 1,416 square feet of inviting living space and the perfect blend of comfort, privacy, and relaxed Florida living. Surrounded by mature trees and attractive landscaping, the property provides exceptional outdoor space with plenty of room for recreation, entertaining, and convenient boat or RV parking. Adding tremendous value and peace of mind, the home has been extensively updated, including a new roof, electrical system, A/C, above-ground pool, and electric pool service—all completed in 2021. Electric panel wired for generator. The interior was freshly repainted in June, and new mulch enhances the curb appeal, creating a move-in-ready opportunity for its next owner. Enjoy sunny Florida days lounging by the pool, hosting gatherings in the expansive backyard, or simply taking in the peaceful surroundings. The generous lot size and tranquil setting create a private retreat while remaining conveniently close to everything Punta Gorda has to offer. Inside, an open-concept floor plan welcomes you with abundant natural light and a seamless flow between the living room, dining area, and kitchen. Wood-look laminate flooring and a neutral color palette enhance the bright, airy atmosphere throughout the main living spaces. The well-appointed kitchen offers ample cabinet and countertop space, making meal preparation both efficient and enjoyable. Warm wood cabinetry, stainless-steel appliances, and durable flooring create a functional and inviting workspace. Open to the living and dining areas, the kitchen serves as the heart of the home, allowing for effortless interaction with family and guests while entertaining. Conveniently located just off the kitchen, the laundry room provides direct access to the attached garage, with both areas offering excellent storage for tools, seasonal items, and everyday essentials. Sliding glass doors lead to a bright enclosed porch overlooking the backyard and pool area. This versatile space is ideal for morning coffee, afternoon relaxation, or evening gatherings, offering year-round enjoyment of Florida's beautiful weather and peaceful views. The home features three comfortable bedrooms, each with generous closet space and cozy carpeting. The spacious primary suite includes a private en-suite bathroom with a walk-in shower, while two additional guest bedrooms share a well-appointed full bath, providing a practical layout for family living or visiting guests. Ridge Harbor is a hidden gem offering flexibility and affordability with a voluntary HOA and minimal annual dues of just $25 for individuals or $35 for families. Best of all, there are no deed restrictions, allowing homeowners the freedom to fully enjoy their property. Outdoor enthusiasts will appreciate access to the private community boat ramp on Shell Creek for only $10 with a marina key, providing direct access to the Peace River and Charlotte Harbor for boating, fishing, and exploring Southwest Florida's waterways. As an added bonus, this property is located outside of a flood zone, which may offer substantial savings on insurance costs. With major systems already updated and recent cosmetic improvements completed, all that's left to do is move in and start enjoying the 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.
