Centrally located between desirable downtown St Pete and our famous sugar sand beaches, this South Central area is St Petersburg’s best kept secret! Add a home that was built in 2020 and has 4 bedrooms and 2 full baths, you have it all! Curb appeal abounds as you approach the home, and the paver front porch invites you to sit and enjoy! Once inside, you are greeted with laminate flooring which flows throughout the living area for a seamless look. The open floorplan makes for easy entertaining in the living room which is open to the chef’s kitchen. With a kitchen that features lots of cabinets, ample countertops, newer stainless appliances and a subway glass tile backsplash, every element is in place. The eat in kitchen is perfect for family meals! After a long day, retire to the bedrooms, which are comfortable with nice closets. The primary suite bath is both functional and attractive, and the 2nd bath is well equipped as well! Laundry day is a breeze in the convenient laundry closet. Enjoy your morning coffee in the very private back yard. Beautifully fenced, it is a great space to kick back and relax with a good book or friends. Having a newer home provides peace of mind! Add the perfect location... just a few miles from St Pete Beach, Vibrant Downtown, the Pier, Gulfport, Pasadena, fine dining, world class golf, shopping, TIA and 275, and you have the perfect home!
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.
