Welcome to this charming and affordable home tucked away in a quiet, well-established neighborhood. With no flood insurance required and no HOA fees, it’s the perfect blend of peace of mind and low-maintenance living. Zoned for the highly rated Anona Elementary School, this home is a fantastic choice as a first time home buyer or as a smart rental investment. Inside, fresh paint and easy-to-maintain tile flooring flow throughout the space. The living room and dining area connect seamlessly, with the dining space set conveniently off the kitchen. The kitchen itself is a standout, showcasing granite countertops, stainless steel appliances, and a modern backsplash that ties it all together beautifully. With two generously sized bedrooms, each with ceiling fans, and an updated bathroom featuring a newer vanity and a tub/shower combo, the home is both comfortable and practical. Enjoy the added convenience of the washer and dryer included. Step outside to the spacious, fenced backyard—perfect for pets, a firepit, or even a playset. A large, new shed provides extra storage for tools, toys, or hobbies. Peace of mind comes with the many updates, including a new AC unit, copper plumbing throughout, and all windows replaced in 2012. Ideally located, you’ll enjoy quick access to Largo’s many amenities. Spend a day exploring the Florida Botanical Gardens, Largo Central Park, or Heritage Village, or head less than 10 minutes west to the Gulf Coast’s world-famous beaches, including Indian Rocks Beach. Outdoor enthusiasts will also appreciate nearby Walsingham Park with its 100-acre lake, miles of trails, playground, and fitness area. Golf lovers can tee off at the nearby Largo Golf Course. Whether you’re looking for your primary home in the desirable Anona Elementary district or a fantastic rental opportunity, this property is full of potential.
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.
