Picture-perfect Craftsman Bungalow nestled on nearly 1/4 acre in South Seminole Heights, offering timeless charm and impeccable curb appeal. Set back from the street, this home welcomes you with a cozy front porch and a peaceful screened side porch tucked just around the corner—perfect spots to unwind. Located on a quaint, quiet street yet only minutes from I-275, you’ll enjoy easy access to some of the area’s best dining and breweries. Walking or biking to local favorites is a breeze. Step inside to a bright, open floor plan that blends the large eat-in kitchen with a warm and inviting family room. An additional flexible living space makes an ideal office, play area, or reading nook. The two spacious bedrooms are filled with natural light, one featuring a walk-in closet and the other offering two closets for ample storage. Original glass doorknobs and classic plaster walls highlight the home’s authentic Craftsman character, while rich Dark Hickory luxury laminate flooring elevates the main living areas. The beautifully updated bathroom includes a newer vanity, stylish lighting, and eye-catching mosaic tile flooring. Interior laundry with a full-size stackable washer and dryer adds convenience. Outside is where this home truly shines. Sitting on nearly a 1/4 acre, the fully fenced backyard offers endless possibilities, plenty of room for gardening, outdoor living areas, a play set, pets, or even space to add a pool. A storage shed provides extra room for tools and equipment, and the expansive lot accommodates RV or boat parking with ease. Even better, the backyard offers alley access, making parking, unloading, or future projects incredibly convenient. Just blocks away you’ll find The Independent, Angry Chair Brewery, Spaddy’s Coffee, local shops, and a neighborhood park. Situated outside the flood zone yet only a short stroll to the waterfront at Rivercrest Park, you can enjoy sunsets, fishing docks, a canoe launch, picnic areas, a playground, and over a mile of scenic walking trails. Armature Works and the Tampa Riverwalk are just 2 miles away, while Downtown Tampa and Curtis Hixon Park, Al Lopez Park, Ybor City, and Raymond James Stadium are all within 3 miles. This central location truly puts you close to it all.
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.
