One or more photo(s) has been virtually staged. Move-In Ready Gem with Modern Upgrades & Investment Potential Welcome to this beautifully updated 3-bedroom, 2-bathroom home, where modern peace of mind meets a functional split floor plan. Perfect for homeowners seeking a turnkey residence or investors looking for a high-performing asset, this property has been meticulously maintained and thoughtfully improved. Key Upgrades & Features: Total Transformation: The home underwent a full makeover in 2019, ensuring a contemporary aesthetic throughout. Modern Kitchen & Baths: Enjoy sleek granite countertops in both the kitchen and all bathrooms. Mechanical Peace of Mind: Major infrastructure is already handled with a new water heater (2018) and a full re-pipe (2018). Outdoor Privacy: A new privacy fence was installed in 2021, creating a secure and secluded backyard retreat. The interior features a desirable split-bedroom layout, offering maximum privacy for the primary suite. Whether you are looking to move in immediately or leverage the current month-to-month tenant—who is eager to stay—this home offers incredible flexibility and immediate rental income potential with zero downtime. Prime Orlando Location: Situated in an established neighborhood, you are perfectly positioned for a seamless commute. With rapid access to SR-50, SR-408, and I-4, you are just minutes from the vibrant energy of Downtown Orlando, the charm of Winter Park, and local shopping, dining, and parks. Whether you’re searching for your next personal home or a cash-flowing addition to your portfolio, this property delivers on every front.
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.
