SELLER FINANCE AVAILABLE Welcome to 306 Grimes Drive, a spacious and well-appointed residence nestled in a quiet, established neighborhood in the heart of Auburndale. This impressive home offers 2,221 square feet of living space situated on a generous 0.39-acre lot, providing the perfect balance of comfort, functionality, and outdoor space. From the moment you arrive, you'll appreciate the inviting curb appeal, mature landscaping, and peaceful surroundings. Inside, the home features a well-designed split floor plan with all rooms generously sized, creating a comfortable and open feel throughout. The main living room offers plenty of space for entertaining or relaxing, while a separate family room provides even more flexibility for gatherings, hobbies, or a playroom. Whether you're hosting guests, working from home, or enjoying quiet evenings in, there's plenty of room for everyone. The spacious kitchen and dining area connect seamlessly to the main living areas, making it ideal for everyday living or special occasions. The oversized bedrooms feature large closets and plenty of natural light, while the bathrooms are functional and well-maintained, ready for your personal touch. One of the standout features of this home is the large screened-in porch, which extends your living space outdoors and offers the perfect spot to enjoy your morning coffee, read a book, or unwind in the evenings while enjoying views of the expansive backyard. The nearly four-tenths of an acre lot offers more than enough space for gardening, play, pets, or even adding a future pool. There is also a large detached shed in the backyard, perfect for storage, tools, or workshop use. With no HOA, there’s flexibility to park a boat, trailer, or RV right on your property with lakes nearby. The oversized lot and layout of the home make it an ideal fit for a variety of lifestyles. Conveniently located just minutes from downtown Auburndale, local schools, parks, and with easy access to I-4 for commuting, this home truly offers the best of both peaceful living and modern accessibility. Don’t miss this opportunity to own a spacious and versatile property in a sought-after Central Florida location.
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.
