Welcome to one of the most distinctive homes in The Residences at University Groves — a builder’s model home thoughtfully designed with upgraded finishes and architectural details rarely found in comparable homes. Offering nearly 3,000 square feet of living space, this residence is among the larger homes in the community and showcases the enhanced craftsmanship and design features typically reserved for showcase model properties. Recently freshly painted and meticulously maintained, the home is bright, current, and completely move-in ready.From the moment you enter, the home reveals the design touches that set a model residence apart: soaring ceilings, generous living spaces, and elegant architectural details that create a sense of openness and sophistication. The floor plan flows seamlessly between the main living areas, making the home ideal for both everyday living and entertaining. The kitchen serves as the heart of the home, with abundant cabinetry, generous workspace, and easy connection to the surrounding living and gathering areas. Whether hosting guests or enjoying quiet evenings at home, the layout supports a comfortable Florida lifestyle. The primary suite provides a spacious private retreat, while the additional bedrooms offer flexibility for guests, home offices, or extended family. Each room benefits from the thoughtful design and upgrades typically included in a builder’s model home. Situated on a generous .27-acre homesite, the property offers both space and privacy within a peaceful residential setting. Mature landscaping enhances the outdoor environment, creating an inviting backdrop for enjoying Sarasota’s year-round sunshine. The location offers exceptional convenience, placing residents just minutes from: University Town Center (UTC) shopping and dining, Sarasota-Bradenton International Airport (SRQ), Downtown Sarasota’s cultural district, Lakewood Ranch, World-renowned Gulf Coast beaches. Homes with this level of space, upgraded design, and location in the University corridor are increasingly difficult to find. For buyers seeking a move-in-ready Sarasota home with model-home upgrades and exceptional square footage, this property represents a compelling opportunity
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.
