Welcome to your private slice of country living in Myakka City—where space, flexibility, and modern upgrades come together on 5 beautiful acres. Additional buyer advantages include USDA eligibility and an assumable VA loan at 3.25%, making this an exceptional opportunity. Priced to move AS-IS, this property is ideal for buyers seeking land, flexibility, and potential—whether you’re looking to create your dream homestead, expand, or invest. This unique property offers NO HOA, NO deed restrictions, and agricultural zoning, giving you the freedom to truly make it your own. The home features 3 bedrooms, 2.5 baths, plus a dedicated office/den – with secret pull out bookshelf leading to under stair storage, with a bright, open layout designed for comfortable living. The updated kitchen is a standout, complete with quartz countertops, solid wood cabinetry with soft-close drawers, a Samsung 4-door refrigerator, gas range with convection and air-fry, oversized sink, and a refreshed pantry/mudroom with exterior access. The living and dining area is anchored by a cozy wood-burning fireplace, adding warmth and charm. Built for both efficiency and peace of mind, the home includes a metal roof, hurricane impact windows, new vinyl siding (2022), spray-foam insulation, owned water treatment system, and owned propane tank. A solar assist system helps power electric and hot water, with Florida Power & Light buying back excess energy. Additional highlights include a screened front porch and a large screened rear porch with sink—perfect for enjoying peaceful outdoor living. The land is fully usable and thoughtfully set up with cross-fencing, a pond, chicken coop, fenced pasture, shooting berm, and dog run. A massive 60x30 workshop on a concrete slab is ideal for hobbyists, business owners, or collectors, featuring four garage doors, an auto lift, compressor, generator, partial A/C office, and RV hookup. Conveniently located just minutes from Lakewood Ranch and close to University Town Center, Interstate 75, and the Gulf Coast beaches, you’ll enjoy the perfect balance of quiet country living with easy access to everyday amenities.
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.
