Welcome home to this beautifully UPDATED 3-bedroom, 1.5-bath (WITH NO HOA) gem is the kind of MOVE-IN-READY property that checks every box for a FIRST-TIME BUYER or a savvy INVESTOR hunting for strong rental income. Step inside and you'll immediately notice the care that's gone into this home. The BRAND-NEW KITCHEN features warm wood cabinetry, generous counter space, and a sleek STAINLESS ELECTRIC RANGE. The home has been FRESHLY PAINTED inside and out, the ceilings scraped and refinished, and the bathrooms outfitted with NEW CABINETS, giving the entire space a clean, updated feel the moment you walk in. The open living and dining area is BRIGHT and WELCOMING, with easy-care tile flooring flowing throughout and plenty of NATURAL LIGHT pouring in. There's room to gather, relax, and make it your own. Here's where it gets even better for your bottom line: this home comes with SOLAR PANELS THAT WILL BE PAID OFF IN FULL AT CLOSING, meaning the new owner gains INSTANT ENERGY SAVINGS from day one, with no loan to assume. Lower utility bills translate directly into more money in your pocket or stronger margins on a rental. There's plenty more to love, starting with NO HOA, which means true ownership freedom and no monthly fees. Out back you'll find a LARGE FENCED-IN BACKYARD, perfect for pets, play, or entertaining. You'll also enjoy the convenience of INDOOR LAUNDRY with washer included, all in a PRIME ORLANDO LOCATION just minutes from major attractions, restaurants, shopping, and major roadways. Whether you're buying your very FIRST HOME or adding a TURNKEY RENTAL to your portfolio, this one delivers VALUE, SAVINGS, and LOCATION. Homes like this don't last. COME SEE IT BEFORE IT'S GONE!
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.
