Welcome to Harbor Point East in Belmont Bay, an amenity filled community where waterfront living meets low maintenance convenience. This light-filled two bedroom, two full bath luxury condo offers beautiful water views from the sunroom and an open, inviting layout designed for both everyday living and entertaining. You’re greeted by a foyer with coat closet and hardwood floors that flow throughout the foyer, kitchen, dining room, living room, and sunroom, while soft neutral paint with crisp crown molding throughout adds a touch of elegance. The oversized dining area opens to a bright living space and a wall of windows in the sunroom, bringing in natural light and showcasing the serene setting. Four ceiling fans add comfort throughout. The upgraded kitchen features 42-inch custom wood cabinetry, granite countertops, and stainless-steel appliances, along with a separate laundry room just off the kitchen with full-size washer and dryer plus added storage racks. The spacious primary suite includes a walk-in closet and an upgraded bath with comfort-height granite topped vanity, glass enclosed shower, and spa toned tile. The second bedroom and upgraded full bath are thoughtfully positioned on the opposite side of the unit for privacy. A one-car garage parking space adds convenience. Located in a 24-hour secure building with front desk and chic lobby, enjoy the abundance of amenities, lush common grounds, outdoor pool, exercise room, jog/walking trails, basketball, tennis and pickle ball courts, playground, and so much more. Ideally nestled next to the marina, shops, and the river, this is your opportunity to enjoy the lifestyle Belmont Bay is known for.
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.
