**$10,000 CREDIT OFFERED & MOTIVATED SELLER** Set in the established Sarasota Springs neighborhood, this thoughtfully maintained 2-bedroom, 2-bath home offers the kind of ease, reliability, and flexibility today’s buyers are actively seeking. With 1,250 square feet of efficient living space, the layout feels purposeful and welcoming, making it well suited for full-time living, a seasonal retreat, or a low-maintenance investment. A charming front porch creates an inviting first impression and leads into a bright, functional interior designed for everyday comfort. The Florida room is filled with natural light and features a wall of windows overlooking the fenced backyard with peaceful pond views. This versatile space easily serves as a relaxing sitting area, home office, or casual entertaining zone, adding meaningful flexibility to the floor plan. Outside, the backyard offers privacy, minimal upkeep, and room to personalize without the burden of heavy maintenance. A major value-add is the home’s focus on preparedness and long-term peace of mind. Hurricane shutters are installed on all windows, complemented by added roof storm protection and a removable mesh storm cover for the Florida room. A full generator hookup powers the main house, and the generator is included, providing added confidence during storm season. Key systems have already been addressed, including a new AC system and water heater in 2021, along with a new HVAC compressor and capacitor in 2025. Recent improvements such as fresh pressure washing, newly painted baseboards in the main living areas, and new bedroom doors reinforce the home’s well-cared-for condition. The one-car garage includes built-in storage, ideal for bikes, tools, and seasonal items. Conveniently located just minutes from multiple shopping centers, a brand-new Aldi across the street, and a short drive to Siesta Key Beach, this property combines location, durability, and ease of ownership. With no HOA and updates already in place, it presents a strong opportunity for buyers seeking long-term value or investors looking for a reliable Sarasota property. **THIS PROPERTY QUALIFIES FOR A 1% LENDER INCENTIVE IF USING PREFERRED LENDER. INQUIRE FOR MORE DETAILS.**
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.
