Coming soon!! Beautifully custom updated Executive Home in prestigious River Gardens on nearly half acre corner lot! This spacious and meticulously updated well maintained home with exquisite landscaping nestled among Oak Trees and Crepe Myrtle's, features 4 bedroom and 3.5 baths. Convienatly located close to University of West Florida. Minutes to the beaches, shopping, dining and entertainment. This home is custom throughout, featuring Large kitchen with double oven, flat top stove, cooking prep island, expansive formal dinning room, sunny eat in kitchen breakfast area with bay window. Professional office space with French doors. Wood flooring throughout the living areas. Tile in bathrooms, carpet in upstairs bedrooms. Wood burning fireplace in family room with French doors leading to large covered screened-in back porch. Stainless appliances, updated custom kitchen cabinets, granite countertops, breakfast bar in the kitchen. First floor master bedroom, with fully updated master bathroom with double vanity, separate shower, large garden tub. Huge updated laundry room with updated stainless steel Laundry sink. The second floor has a large family/media room area with access to an outside balcony overlooking the front yard. There are three more bedrooms and two full updated baths on the second floor. Exterior features on a this large .45 acre corner lot with several yard of the month awards include circular driveway, side entry two-car garage, backyard privacy fence, and yard building huge Oak trees and Lemon tree. This Geo-thermal home is a money saver on utilities and there are closets/storage galore.
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.
