Set on 0.23 acres, this 3 bedroom, 2 bath home features an above ground pool, 6 year old roof, stone accented wall on the exterior and on the inside, light-toned tile flooring in the living room complemented by front-facing windows and a door leading to the expansive 14 x 5 storage closet. The dining area features laminate flooring, a convenient storage closet, and double sliding doors that lead to an additional enclosed space. Originally a covered patio, this area has been thoughtfully finished with walls, a wood paneled ceiling and carpeting, creating a versatile flex space that is currently being used as a bedroom. The kitchen sits just to the right and features tile flooring, solid surface countertops arranged in an L-shaped layout with extended prep space, a dual sink set beneath a window overlooking the covered patio space, black-toned appliances, and generous upper and lower cabinet storage. The primary bedroom provides a comfortable retreat with laminate flooring, built-in closet, multiple windows, and a spacious en-suite bath offering extended counter space, a single vanity with a large wall-mounted mirror, a window for natural light, and a tub-and-shower combination finished with tiled walls. A second bedroom shares the same laminate flooring and includes a built-in closet, French door access to the rear covered patio and a secondary door leading to the laundry room. The laundry room has built in overhead cabinets, a lot of additional space for storage, and a door leading directly to the side yard. The third bedroom also features matching flooring, a built-in closet, and it’s own updated en-suite bath with a single vanity and a tub-and-shower combination accented by tiled walls. Outside, the covered patio spans the rear of the home with a paneled ceiling and screened panels that frame views of the fenced yard, where an above-ground pool, storage shed, and open lawn space create a relaxed outdoor setting. The location offers convenient access to local highlights including Weeki Wachee Springs State Park for kayaking and clear spring waters, SunWest Park with its freshwater beach and water activities, and Anderson Snow Sports Complex, featuring trails, sports fields, and recreational amenities that add to the appeal of living in Spring Hill.
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.
