DIRECT GULF ACCESS two-story POOL HOME located in the highly desirable Waterway Estates, in North Fort Myers, FL, offering NO HOA—an exceptional opportunity for both refined family living and income-producing vacation rental use. This well-established and quiet neighborhood is ideally positioned just minutes from Cape Coral and Downtown Fort Myers, providing convenient access to a wide selection of well-known restaurants, shopping destinations, and scenic waterfront areas. Perfectly situated only 5 minutes from the Caloosahatchee River and the Gulf of Mexico, the home offers quick boating access to some of the best beaches in Southwest Florida, making it especially appealing to boaters, snowbirds, and seasonal residents. This expansive residence features 3,270 sq ft under air with 5 bedrooms and 3 bathrooms, ideal for large families, multigenerational living, or maximizing short-term rental potential. The primary suite is located on the first floor, offering a spacious walk-in closet, dual sinks, soaking tub, and separate shower. A first-floor guest bedroom with its own private bathroom provides added flexibility and privacy. The interior showcases a gorgeous, updated kitchen with quartz countertops, modern stainless-steel appliances, a large island, and abundant cabinetry—perfect for entertaining or hosting guests. New porcelain tile throughout, new impact doors and windows, and new roll-down hurricane shutters in the lanai enhance comfort, durability, and peace of mind. Outdoor living is exceptional, featuring a heated pool, brand-new outdoor kitchen, expansive lanai, and peaceful waterfront views. Boating enthusiasts will appreciate the concrete seawall, dock in place, and covered boat lift—a premium combination that significantly enhances both lifestyle and rental appeal. Recent upgrades include a NEW ROOF, NEW AC, and NEW POOL HEATER, making this a truly move-in-ready, low-maintenance investment. Whether you are searching for a primary residence, seasonal snowbird retreat, or a high-demand waterfront investment, this property delivers an outstanding blend of location, upgrades, boating access, and lifestyle. Don’t miss this opportunity—schedule your private showing today and explore the value of Gulf-access living in a highly sought-after North Fort Myers waterfront 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.
