New Price! Take advantage of this price reduction now. Use your imagination to utilize the spaciousness of this home to create your unique design and living arrangement. This 3 bedroom, 3 full baths home with resort style swimming pool and spa is in one of the most conveniently located spots in Cape Coral! All within walking distance to entertainment, shopping, restaurants, social events, weekly Farmer's Market and much more. Enter into the open floor plan with luxury plank porcelain floor tile, recessed ceiling lighting, and beautiful ceiling fans throughout. The spacious primary bedroom with ensuite bath and huge walk-in closet leaves you to your design creativity for utilizing the space as your special retreat! The split bedroom plan provides privacy and convenience for family or guests with another bedroom also having it's own private full ensuite bath plus a convenient guest bathroom off the hallway. The family chef will enjoy meal preparation utilizing the gleaming stainless steel appliances, high-end GE Profile range with double oven and pantry. Conveniently located off the kitchen is the air conditioned laundry room with extra wash basin. The inviting swimming pool & spa is ideally situated with southern exposure and large area for relaxing in sun or shade. The back yard is fully fenced providing privacy for your outdoor enjoyment. The driveway has been conveniently widened to adequately accommodate multiple vehicle parking space. There are storm panels for wind protection and the home is on city water & sewer services with sprinkler system for irrigation. Take advantage of this opportunity to secure your home before the holidays Now!
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.
