Discover this rare find in an established neighborhood with NO HOA and close to all of Central Florida's attractions. This property if over an acre with a large circular drive and abundant parking for friends and family. It even has an RV space with hookup for electric, water and sewer. It has mature landscaping with beautiful Oak trees and a fully fenced back yard for your furry friends. There are 2 outbuildings for storage of pool and landscape tools. Exit the house through french doors to the exceptional entertainment area featuring a hot tub that water falls into the kidney shaped pool with custom pavers and large patio area all covered by an upgraded screened enclosure. The back of the property is lined with exotic bamboo trees for privacy and provide a tranquil setting. Inside the home is an efficient kitchen with granite countertops and stainless appliances including a double oven. The large primary suite is secluded on one side of the home and has a walk-in closet with 3 tiers of hanging storage. The bath features a double vanity and large shower with double shower heads. There is also a garden tub if you prefer to soak. The other side of the house has 2 more bedrooms with another full bath and separate entrance. There is a living room, dining room and family room with a wood burning fireplace with high ceilings in between. The fireplace has a gorgeous wood mantel and a raised hearth. The entire house has been replumbed to meet current codes and a new energy efficient water heater was installed. The 3 car finished garage with workshop has 8ft doors and is heated and cooled. There is a 10x23ft bonus room that you can use to suit your needs. For the exercise lover you have access to miles of sidewalks and bike lanes. All this and other hidden gems for you to discover.
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.
