This exceptional 1925 Craftsman-style residence in Palma Ceia is a rare blend of historic elegance, thoughtful renovation, and modern structural integrity — a home with a story deeply rooted in Tampa’s history. Originally built in the 1920s and once owned by the mother of a former Tampa mayor, the home carries a unique local legacy. It was later thoughtfully relocated and rebuilt on a solid, modern foundation, preserving its architectural character while delivering the confidence and integrity of newer construction. This intentional approach allows the residence to honor its past while living comfortably in the present. Throughout the home, classic Craftsman details evoke warmth and authenticity, while tasteful renovations enhance livability and flow. In addition to its architectural charm, the home has benefited from a series of recent upgrades designed to enhance comfort, efficiency, and long-term value — further reinforcing its ability to live like newer construction. The expansive backyard offers exceptional flexibility, with $34,000 in professional pool preparation already completed, making the property fully pool ready. Virtual renderings are available to help envision a custom pool and outdoor living space tailored to the next owner’s vision. Set within Palma Ceia, one of South Tampa’s most sought-after neighborhoods, this property presents a rare opportunity to enjoy historic style outside of Hyde Park. Ideally located near Bayshore Boulevard, the home provides convenient access to downtown Tampa, Hyde Park Village, Tampa International Airport, and South Tampa’s dining and lifestyle amenities. Palma Ceia is widely regarded for its strong sense of community, walkability, and proximity to highly rated schools, making it one of the most desirable areas in South Tampa. Additional value: this home includes a seller-paid interest rate buy-down through List & Lock™, offering a reduced rate as low as 5.875% (APR 6.135%) as of 01/29/2026, helping lower the buyer’s interest rate and monthly payment. Terms apply. See disclosures for additional details. A truly unique opportunity to own a piece of Tampa’s history — thoughtfully reimagined for today’s lifestyle. Tenant occupied—please do not disturb. Showings by appointment only 24 HOUR IN ADVANCE.
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.
