Escape to your island oasis on Coquina Key, where relaxed coastal living meets the vibrant heart of St. Petersburg. With a recent price improvement and an assumable VA loan with a very low interest rate (for eligible buyers), this home offers one of the best opportunities on the island. Even better—the seller is offering a generous concession that can be used at closing to buy down your interest rate, significantly lowering your monthly payment. You may also apply the concession toward closing costs or even toward your flood insurance, giving you exceptional flexibility and value. This meticulously maintained 4-bedroom, 2-bath home has been remodeled to perfection. The stunning chef’s kitchen features quartz countertops, double ovens, a gorgeous backsplash, high-end fixtures, abundant storage, and a dedicated coffee bar area with a beverage cooler. The oversized primary bedroom offers a built-in fireplace and generous closet space, while the beautifully designed bathrooms and spacious laundry room add both comfort and convenience. Expansive living areas overlook a serene, fully fenced backyard that backs up to an incredible park featuring tennis and pickleball courts, basketball courts, two soccer fields, two dog parks, and a scenic waterfront walking trail—your own private retreat with nature right behind you. Major updates include a new A/C (2021), roof (2019), water softener (2023), and water heater (2025), giving you peace of mind for years to come. Outside, an eco-friendly circular driveway and lush landscaping welcome you home to this peaceful island setting. Just three miles from downtown St. Pete, Coquina Key offers the best of both worlds. Cross the charming bridge to find two cozy coffee shops, excellent restaurants, and a new neighborhood hotspot where locals gather—there’s even a sandwich named after the island! A 24-hour market is nearby for added convenience. Known as the friendly island, Coquina Key truly lives up to its name. Neighbors wave as they walk or cruise by in golf carts, and community events like movies in the park and the beloved annual Christmas parade bring everyone together. All of this, with easy access to some of Florida’s most beautiful beaches. Don’t miss your chance to make island living your reality!
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.
