SURROUND YOURSELF WITH AMENITIES AT A PRICE MORE AFFORDABLE THAN OTHERS! On nearly 1/4 acre, this 3-bedroom, 2-bath, mid-century modern home puts you so close to so many advantages of Temple Terrace: parks and recreation, multicultural restaurants and shops big or small, quality schools and services, century-old private golf club, and public boat launches to the Hillsborough River. In a neighborhood near many more expensive and elegant homes, this gem lives larger than 1,530 SF thanks to expansions including a screened lanai overlooking the fenced back yard. That yard features a sturdy block shed, a raised-bed garden beside a small greenhouse, a homemade chicken coop, and a koi pond with scores of third-generation fish. Plants range from Mexican petunias, Key Lime, crepe myrtles and banana trees to bromeliads, bougainvillea, plumeria and medicinal moringa trees. Inside you'll find recent improvements such as a 2026 water heater, new kitchen cabinets and stone counters, a renovated bathroom with decorator tile, refinished terrazzo floors, and fresh paint. The separate-entry side family room with second bathroom and laundry could work alternatively as a home office or additional resident space. No HOA fees or rules here, so you can park your boat or work truck in the substantial front carport or along the curved driveway. This property is just a few blocks from Riverhills Elementary and the waterfront Riverhills Park, which offers a concrete boat ramp, boardwalk pier, fishing, birding, picnic area, playground, restrooms and shelters. Despite your proximity to the river, meanwhile, you're outside the flood zone. The University of South Florida and Florida College are nearby, of course, and you'll love Temple Terrace's "leisure network" that spans 2 nature preserves, 2 recreation centers, 3 athletic complexes, 3 tennis facilities, 5 swimming pools, and 19 parks. Make your appointment to visit today!
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.
