RAINBERRY BAY is a 55+ adult community with amenities and facilities to provide an active life for the 901, with affordable homes found in a park-like setting. The community was built in the 1980's and has been thriving ever since. Come visit our tree-lined, gated community, with its beautiful lake and abundant natural resources. The amenities are plentiful, and the population stays young. This 2/2 villa with a corner location features: Vaulted ceilings, split / stacked bedroom layout, ceramic tile flooring, an eat-in kitchen, dining/living room combination, and a separate shower in the primary bath. # Rainberry Bay - Community Lifestyle & Amenities Welcome to **Rainberry Bay**, one of Delray Beach's most active and engaging 55+ communities, where lifestyle, connection, and convenience come together. At the heart of the community is **Lake Delrain**, a scenic focal point offering beautiful sunsets and daily encounters with nature including birds, turtles, and even occasional river otters. Residents enjoy a relaxed, resort-style atmosphere with **five pools and four spas**, ideal for both socializing and quiet relaxation. The **clubhouse serves as the center of activity**, featuring: * Fully equipped fitness center and weight room * Separate men's and women's saunas and steam rooms * Library * Arts & crafts studio * Billiards room * Card and meeting rooms For entertainment, the **Rainberry Theater** offers a professional stage, lighting, and sound system, hosting performances and community events throughout the year. Outdoor and recreational amenities are extensive: * **10 Har-Tru tennis courts** with an active tennis program and on-site professional * **8 lighted pickleball courts**, one of the most popular amenities in the community * **Bocce courts** with an active and social club * Walking and biking paths throughout the community Residents also benefit from a wide range of classes and activities through **"Brainberry U,"** offering everything from fitness and yoga to arts and educational programs. Safety and peace of mind are key features, with: * **24-hour manned gated security** * Roving patrol --- # Positioning Insight for Your Listing This community is not just housing—it's a **lifestyle-driven environment**, which is exactly what buyers in this price range are looking for.
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.
