**Seller offering assistance to buy down the interest rate or to contribute toward the buyer's closing costs and prepaids** Stunning 5-Bedroom Pool Home with Water and Conservation Views in the Gated Ashmonte Subdivision of Oakstead! This Mercedes Homes Paradise Cove floor plan offers 3,760 sq ft of beautifully designed living space with 5 bedrooms, 3 full baths, and a 2-car garage—perfectly nestled behind the gates of highly sought-after Ashmonte at Oakstead. NEW Roof (2024)! NEW Hot Water Heater (2024)! A grand entry sets the tone with elegant columns, an 8' front door with sidelights, and a soaring foyer ceiling featuring a medallion inlay, upper-level windows, and marble flooring. A balcony with a wood banister railing overlooks the foyer, adding architectural distinction. The spacious dining room, adorned with gleaming marble floors, can be styled as a formal dining area or combined sitting room. In the living room sliding glass doors open to your private outdoor retreat. The chef’s kitchen is equipped with wood cabinets, granite countertops, stainless appliances, including a smooth-top range, microwave, dishwasher, and French door refrigerator. A breakfast bar creates the perfect place to start your day, while the sunlit breakfast nook offers peaceful views of the lush backyard and pool. Perfect for guests or multi-generational living, the first floor includes a king-sized guest suite with sliding glass door access to the lanai, and a full bath with a tub/shower combo with NEW glass doors. Upstairs, you'll find a large bonus room with French doors and a built-in granite-topped buffet, serving as a central hub for four additional bedrooms. French doors open to the grand primary suite which features luxury wide plank vinyl floors (2024), a raised sitting area with engineered hardwood floors, two walk-in closets, and spacious ensuite bath with dual sinks, soaking tub, walk-in shower, linen closet, and a private water closet. Through French doors from both the primary suite and the bonus room, step onto the full-length balcony overlooking the luxurious pool/spa and serene backyard oasis, all under a screen enclosure. The expansive herringbone paver lanai and pool deck provide plenty of space for relaxation and entertaining, complete with multiple seating areas. Two gas grills and a mini fridge on the patio convey. The 25,000-gallon 8’ deep saltwater pool and spill-over spa are gas heated and enjoy sweeping conservation and water views. Additional highlights include a laundry room with utility sink and cabinetry, sprinkler system, water softener (2019), two Trane A/C units (2015) with updated air handlers (2018), and textured garage flooring. This home is equipped with a whole-house automatic stand-by generator, providing seamless power during outages ensuring peace of mind and comfort. Residents of Ashmonte enjoy access to resort-style amenities, including a clubhouse, fitness center, two party rooms for rent, a 165,000-gallon saltwater pool, three tennis courts, volleyball and basketball courts, a ball field, and a covered playground—all set amid beautiful natural surroundings. Ideally located along SR-54, you’ll enjoy the convenience of nearby shopping and dining, top rated schools, and just minutes from the Suncoast/Veterans Expressway, Tampa International Airport, and just 40 minutes to Florida’s renowned sand beaches. Don’t miss this opportunity to experience living in one of Oakstead’s most desirable communities.
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.
