AVAILABLE SOON to serious buyers by appointment only. This gorgeous Spanish-Mediterranean pool home is located in one of the most desirable pockets in South Tampa (no thru traffic). Custom-designed by its original owner, the two-story home was built using full masonry construction. The property is favorably sited within Flood Zone X and elevated several feet above street level — proving protection against multiple hurricanes without any damage or flooding. Convenient steps away from top-rated Roosevelt Elementary School, some of Tampa's best local food and desert spots (e.g., Cappy's Pizza, Pinky's Breakfast, Chill Bros Ice Cream, and more) as well as Starbucks, spas, galleries, and Bayshore Boulevard. Convenient access to Downtown, Tampa General Hospital, Selmon Expressway, MacDill Air Force Base, and Tampa International Airport. Inside the first floor you will find genuine saltillo tile floors delineating the high-traffic and entertainment areas such as the foyer, parlor, powder room, formal dining room, and central two-story atrium. Brazilian teak (Cumaru) hardwood floors cover the more intimate areas such as the family room, kitchen, staircase, upstairs hallways and bedrooms. Chandeliers, skylights, crown molding, plantation shutters, interior courtyard provide an airy ambiance and ample natural light throughout the home. The professionally designed kitchen is well-equipped and thoughtfully laid out with Omega cabinetry, level five granite countertops, and custom travertine backsplashes. The spacious center island houses a large farmhouse sink, hidden dishwasher, and multiple electrical outlets, and a number of discrete storage options. Along with the minibar, space for seating along the island's far side is convenient for breakfast, casual dining, or late-night snacking. The kitchen and family room directly access the screened pool deck, pool and spa, with a dedicated outdoor grilling gas line -- great for whether relaxing with family or entertaining friends. The staircase leading upstairs consists of Brazilian teak hardwood treads, Spanish tile risers, and wrought iron handrails. On the second floor you will find spacious bedrooms with custom built-in closets, full bathrooms, and a convenient laundry room. The master bath comes equipped with dual vanities, high-arch Signature Hardware faucets and oil-rubbed bronze lighting valances, granite countertops, and Turkish travertine backsplashes. Soft-close Omega cabinets provide convenient storage options and additional electrical outlets hidden behind the drawers. The walk-in shower comes equipped with Signature Hardware rain shower head and sprayer, ample recessed storage shelves, and is adorned floor-to-ceiling in Turkish travertine. The oversized undermounted soaker tub features a waterfall faucet, convenient sprayer wand, granite tops and Turkish travertine backsplashes --- providing a private retreat to relax after a busy day.
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.
