Discover the opportunity to own a spacious 4-bedroom home in the established Azalea Park area of Orlando. Situated on a quiet residential street, this property offers over 1,500 square feet of living space and a flexible floor plan that fits a variety of lifestyles. The home features four generously sized bedrooms, two primary bathrooms, plus an additional owner-added third bathroom that adds extra convenience and functionality. Inside, the layout provides comfortable living areas filled with natural light and a welcoming atmosphere. The kitchen is highlighted by a beautiful quartz island, ample cabinetry, and a layout that flows naturally into the dining and living areas, making it ideal for everyday living or entertaining guests. Tile flooring throughout the main living spaces adds durability and easy maintenance. The additional full bathroom creates added versatility for guests, multi-generational living, or flexible use of the fourth bedroom as a private office or bonus space. Step outside to enjoy the fenced backyard offering room for outdoor entertaining, gardening, pets, or future enhancements. The property sits on an approximately 0.22-acre lot, providing plenty of space while still being easy to maintain. House is freshly painted, roof is almost 4 years old and the water heater is 1 year old. Located in a convenient Orlando location, the home offers quick access to major highways, downtown Orlando, Orlando International Airport, and the University of Central Florida. Nearby parks, shopping, dining, and everyday amenities add to the appeal of this well-positioned property. Whether you are searching for a primary residence, investment property, or a home with room to add personal touches, this property presents a great opportunity in a well-established Orlando neighborhood.
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.
