One or more photo(s) has been virtually staged. GREAT HOME IN THE ESTABLISHED VILLAGES OF SOUTHPORT — SOUTH ORLANDO GEM WITH VA ASSUMABLE MORTGAGE AT 2.75%! Beautiful landscaping and charming curb appeal welcome you to this move-in ready, open floor plan where YOU PICK YOUR OWN luxury vinyl floors from the exclusive Dyar Nasa Collection, making this home truly yours from day one! The centrally located kitchen is highlighted with white cabinets and a full complement of appliances that flow seamlessly into the dining and living areas. The FULLY REMODELED bathroom (2024) is your personal retreat, featuring porcelain tile, quartz countertops, soft-close cabinets, a rain shower with a tiled nook, and a roman tub providing a spa-inspired experience right at home. Soft close cabinets, quartz counters, porcelain tile, recessed lighting, ceiling fans, and decorative light fixtures provide the touches of elegance throughout this masterpiece. Walk out sliding glass doors to enjoy outdoor Florida living inside your screened enclosed lanai overlooking your large private fenced backyard oasis, perfect for summer BBQs and evening relaxation. Have peace of mind knowing this home features a ROOF REPLACED 2017, A/C REPLACED 2017, an enormous storm-safe walk-in closet with flexible use as a pantry or home office, ample hallway storage closets, and is PROTECTED with a 1-YEAR HOME WARRANTY! Best of all, take advantage of the RARE VA ASSUMABLE MORTGAGE AT ONLY 2.75% and save thousands on your monthly payment! Villages of Southport is a well-established community loaded with amenities, including a community pool, playground, and Southport Community Park plus partial lawn service. Conveniently positioned just minutes from Orlando International Airport, the Amazon Fulfillment Center, and Lake Nona Medical City, with quick access to SR 528. THIS IS A MUST-SEE!
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.
