This waterfront gem offers 75 feet of frontage on the Fordham Waterway, complete with riprap seawall installed in 2023, wood dock, floating dock, and a 7,000-pound boat lift installed in 2021, providing direct access to Charlotte Harbor and the Gulf of Mexico. With 1,179 square feet of well-designed living space, this 3-bedroom, 2-bath home with an attached oversized single-car garage with extra storage space is perfectly suited for both relaxed waterfront living and entertaining. The home features a living/dining room combination and a rear conversion that creates a spacious family-style room with an additional bonus room—ideal for a home office, hobby space, or entertainment area. A door from this space opens directly to the backyard, allowing seamless indoor-outdoor living. Tile flooring throughout ensures easy maintenance. The kitchen is appointed with granite countertops, wood cabinetry, and stainless-steel appliances. A bonus room just off the kitchen offers flexible use—it could serve as a pantry, breakfast nook, or extra storage space. The primary bedroom includes an attached full bath, while the two additional bedrooms share a full bathroom with a walk-in shower conveniently located near the laundry room. Step outside to a fenced backyard with a freestanding hot tub and fire pit—perfect for relaxing or entertaining while enjoying the waterfront views. The home’s roof received a modified rubber (modified bitumen) system in 2011, with a protective coating added in 2025 to enhance waterproofing and extend its life. A new water heater was also installed in 2025. Conveniently located close to shopping, dining, parks, gulf beaches, boating, golf, and an award-winning hospital, this property combines the best of waterfront living with everyday convenience. **PLEASE ENJOY THE 3D INTERACTIVE VIRTUAL TOUR ASSOCIATED WITH THIS LISTING**
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.
