Location, Location, Location – “Alderman Ridge Subdivision” This beautiful 3-bedroom, 2-bathroom, 2 car garage, heated pool and fenced in yard on a corner lot is waiting for you and your family. Cathedral ceilings, plantation shuttes throughout makes this home feel large, airy, bright and sunny with natural light. Lovely open split floor plan, enter the home from the beautiful leaded glass door into the living/dining room with tile flooring. In the center of the house is the Chef’s kitchen which features: Stainless steel appliances, granite counter tops and gorgeous cherrywood cabinets, breakfast bar, large pantry and the kitchen overlooks the Great room with elegant mirrored wall. 2 French doors from the dining and great room lead you out into the screened in lanai, brick pavers, and heated Pebble Tec pool with child safety fence. Master bedroom is large with a walk-in closet and attached en-suite, the ensuite has an amazing shower with several shower heads and bench seat, a sliding glass door that makes it easy to get in and out of the shower, linen closet, and a marble tile counter top with cherrywood cabinet and a door to the Lanai and pool. The 2 additional bedrooms are spacious with a hall bathroom in between them. The hall bathroom has a tub and shower and a granite counter top cabinet. This home sits on a corner lot and the back yard is completely fenced in with a vinyl fence for an abundance of privacy and outside entertaining. The home has an inside laundry area, and a 2-car garage. Roof is a 25-year dimensional shingle, water heater is newer, 2020 solar panels installed and paid off. Lovely neighborhood, low HOA fee, low electric bill. Close to EXCELLENT SCHOOLS, parks, churches, transportation, shopping, restaurants, hospitals, GOLF COURSES, highways, and minutes away to Florida’s AWARD-winning beaches. This home is waiting for you to call your own. You will love to call this home!!!
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.
