One or more photo(s) has been virtually staged. 3632 Morley Dr, New Port Richey, FL 34652 is a 2 bedroom, 2.5 bathroom single family home with approximately 1,449 square feet on a 5,100 square foot lot in Colonial Hills, giving buyers a practical layout, meaningful updates, and a location that continues to attract attention in west Pasco County. This is the kind of home that fits buyers looking for a move in ready New Port Richey property with everyday function, manageable upkeep, and the added benefit of no HOA. With public sewer, city water, a 1 car garage, fenced backyard, and non flood zone location, the ownership profile here is straightforward, which is exactly what many buyers are searching for in this part of Florida. The layout works well for daily living and has more flexibility than many typical 2 bedroom homes because of the additional half bath. That extra bathroom adds real convenience for guests and day to day use, while the attached garage gives practical space for parking, storage, tools, or hobby use. The home also includes front and rear outdoor areas that help extend the living experience beyond the interior square footage, including a rear screened porch, fenced backyard, paved patio, and storage shed. Buyers comparing homes in New Port Richey often look closely at usable outdoor space, and this property has the kind of setup that supports pets, gardening, storage, relaxing outside, or simply enjoying a more complete backyard layout. A major part of the value here is that several important system updates are already done. The roof was replaced in 2021, the water heater was replaced in 2021, and the central A/C system is from 2015 with a newer pump added in 2021. Those are the kinds of updates that matter because they help reduce some of the larger early replacement concerns for a future owner. The home is described as turnkey and move in ready, which positions it well for buyers who want a property they can use now while still having room to personalize over time if they choose. The overall setup is appealing for someone looking for a primary residence, a seasonal Florida home, or a property in Pasco County with practical features already in place. From a search standpoint, this home lines up with what buyers are actively looking for online. For anyone searching for a New Port Richey home with no HOA, a Colonial Hills single family home, a 2 bedroom 2.5 bathroom home with garage, a move in ready home in Pasco County, or a Florida property with fenced yard and shed, 3632 Morley Dr checks multiple boxes at once. The location also keeps you close to downtown New Port Richey, Tarpon Springs, shopping, restaurants, medical services, and the daily conveniences that make this area attractive. This is a strong option for a buyer who wants comfort, function, updated big ticket items, and a location that continues to hold demand.
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.
