“Closing cost assistance available with acceptable terms.” Imagine waking up every day in a truly extraordinary waterfront community, where lifestyle, nature, and a rare financial opportunity come together, because this property features an assumable mortgage with an excellent interest rate, a powerful advantage in today’s market that can translate into significant long-term savings. Surrounded by navigable community waterways that connect to Alligator Lake through a community boat lift system, this neighborhood offers a one-of-a-kind experience for boating, fishing, and outdoor enthusiasts. This beautiful move-in-ready corner home offers 4 bedrooms, 2 bathrooms, and 2,103 square feet of bright, open living space, featuring pavers throughout the property and a screened lanai that allows you to enjoy mosquito-free evenings, open the sliding doors to let in refreshing seasonal breezes, and create the perfect setting for relaxing or entertaining. The spacious backyard provides room to design a private pool or custom outdoor retreat, while the flexible floor plan easily accommodates a home office, game room, or additional living space. The kitchen serves as the heart of the home, and the primary suite feels like a true sanctuary at the end of the day. All of this is ideally located just minutes from Lake Nona Medical City, the Orlando VA Medical Center—one of the largest and most advanced Veterans hospitals in Florida, near Orlando’s vibrant sports and entertainment scene, home of the Orlando Magic, with quick access to Disney World, EPCOT, SeaWorld, Universal Studios and Epic Universe, the Kennedy Space Center where rockets launch, Port Canaveral, I-95 with direct connectivity to Miami, Orlando International Airport currently expanding with a new terminal, and the high-speed train connecting Central and South Florida. This is not just a comfortable and well-located home… it is a rare, exciting opportunity where lifestyle and financial advantage meet.
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.
