Some of the pictures may be digitized. Opportunity to own a nice 3 bedroom, 2 bath home in a wonderful neighborhood. Centrally located in south Kissimmee on the much less traveled Ham Brown Road. Note...A brand new roof is being installed by the insurance company and is in the final stages of the process, to be started and completed. Result of a storm. This home has Solar Panels allowing for lower electric bills in the range of $30/month. Imagine that! The owner installed them in June of 2020 and pays the low price of $127.45 a month. Great deal and saves a lot of money! As you walk in, there is a nice size living room off to your right... perfect for unexpected company or can be an excellent study for someone. Down the hall there is a large laundry room/utility room with a door which passes through to the oversized two car garage...22 feet by 18 feet with a garage door opener. Continuing down the hallway you have two bedrooms and a full bath on your right. In the back of the home is a large family room, dining room and kitchen with a counter and eating space. The kitchen has beautiful 42" wood cabinets and granite countertops with all appliances. The Primary Bedroom sits in the back and just off the kitchen. Spacious bedroom with a master bathtub and shower. The main living area, with the exception of the bedrooms has Waterproof luxury vinyl throughout. Also scratch resistant! Perfect for pets! The front driveway has concrete pavers adding value to the property. The backyard has care-free vinyl fencing and there is a covered and screened porch, perfect for entertaining or visiting with friends or family. The neighborhood offers a community pool and playground/park for its residences. Great neighborhood and community and the pool is just down the street. Special opportunity to own a wonderful home. Come take a look!
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.
