Palm Grove is one of Fort Pierce's most established gated 55+ communities, and this 2-bedroom, 2-bath home is priced below what identical floor plans are closing for right now. The 1,305 square foot layout is straightforward and functional. Vaulted ceilings open up the main living area, and the combined living and dining space flows naturally for everyday use. The primary suite includes a walk-in closet and separate shower. A covered patio off the living area gives you a comfortable outdoor space without the maintenance of a large yard. The home also comes with a recently installed roof and a 1-car garage. The HOA covers cable, internet, water, sewer, trash, pest control, and grounds maintenance. That means your monthly expenses are predictable and the exterior upkeep is handled. Comm... Palm Grove is one of Fort Pierce's most established gated 55+ communities, and this 2-bedroom, 2-bath home is priced below what identical floor plans are closing for right now. The 1,305 square foot layout is straightforward and functional. Vaulted ceilings open up the main living area, and the combined living and dining space flows naturally for everyday use. The primary suite includes a walk-in closet and separate shower. A covered patio off the living area gives you a comfortable outdoor space without the maintenance of a large yard. The home also comes with a recently installed roof and a 1-car garage. The HOA covers cable, internet, water, sewer, trash, pest control, and grounds maintenance. That means your monthly expenses are predictable and the exterior upkeep is handled. Community amenities include a heated pool and spa, a fully equipped fitness center, pickleball courts, tennis courts, bocce ball, shuffleboard, a clubhouse with a game room and billiards, a library, walking trails, and a packed calendar of social events and clubs throughout the year. The gate is staffed 24 hours a day, giving residents an added layer of security and privacy that a lot of communities at this price point simply do not offer. Fort Pierce Inlet State Park is just a few miles away with swimming, surfing, and some of the best fishing on the Treasure Coast. Downtown Fort Pierce has a legitimate restaurant and arts scene, anchored by the Sunrise Theatre and waterfront dining along the Indian River. Lawnwood Regional Medical Center, the area's main hospital and a Level II Trauma Center, is close by. I-95 and the Florida Turnpike are both easily accessible, putting West Palm Beach just over an hour away and Orlando and Miami both under two hours. This is a great home at an unbeatable price. Schedule your showing 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.
