One or more photo(s) has been virtually staged. Location! Location! This spacious 2,358 sq. ft. pool home features 4 bedrooms, 3 bathrooms, and a 2-car garage, perfectly positioned off North Sumter Blvd and just a mile from the new Sarasota Memorial Hospital now under construction. With quick access to I-75, getting around town is easy and efficient. A brand new roof from 2023 adds major value, while the white vinyl fenced yard, storage shed, and brick paver patio with firepit create an outdoor setting made for relaxing and entertaining. Curb appeal shines with an eye-catching design that includes multi-pillared front columns framed by flowering shrubs and graceful palm trees. Step inside to a large living and dining room, with the kitchen overlooking the bright breakfast room. Just off the kitchen, a spacious family room with tray ceilings offers even more room to spread out and enjoy everyday living. The home wraps around a sparkling blue in-ground pool, and most rooms enjoy beautiful pool views that bring in natural light and a laid-back Florida feel. The kitchen is packed with upgrades, including solid wood cabinets with soft-close pull-out drawers, a lazy Susan, tall pantry, pendant lighting, crown molding, and a large wraparound granite breakfast bar. Bar stools are included, and the refrigerator was replaced in 2022. The primary bedroom includes tray ceilings, French doors to the pool patio, and a large walk-in closet. The private bath features dual sinks, a granite countertop with solid wood vanity, a luxury garden tub, and a tiled Roman walk-in shower. Guest bedrooms are generously sized with laminate flooring. The second bath is updated with a tiled tub and shower, wood vanity, granite countertop, and added cabinet shelving, while the third bath also offers granite counters, wood cabinetry, and a tub/shower combo. An inside laundry room includes washer, dryer, and overhead shelving. The garage offers wooden shelving that stays. Set in a quiet, peaceful neighborhood, this North Port home is close to a dog park, walking and biking trails, kayaking spots, the CoolToday Park Braves stadium, shopping, dining, and more. Flood insurance is not required. Home warranty for new buyer! Call today to schedule a private viewing and experience everything this incredible pool home has to offer!
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.
