WELCOME TO TWO-HOMES ON 5 ACRES of country living in Beautiful & Peaceful Myakka! With NO HOA or Deed Restrictions- offering privacy, space, and comfort it is perfect for livestock with luscious pastures, or an investment property. The main Modular home overlooks a pond that will not flood, because of pipes allowing water up to a certain level and fully stocked with fish. The home has an open-concept design ideal for both daily living and entertaining. The home offers 3 bedrooms, 3 bathrooms, a den, with the primary bedroom having a spacious walk-in closet and nice size rooms throughout. An office is conveniently located near the primary suite, and a cozy wood-burning fireplace anchors the dining area. The kitchen has a window over the sink looking out to the vast property, with a dishwasher hook-up. The laundry room has a washer/dryer powered by propane tank with extra storage and the rest of the home runs on electricity. There are 2-wells and 2-septic tanks on the property. Outdoor living is equally impressive. Enjoy morning coffee on the screened-in back porch overlooking the lush acreage, or unwind by the firepit at night. A separate second Mother-in-law suite home on the property is over carports, featuring 2 bedrooms, 1 bathroom, a full kitchen, front-load washer and dryer, and a beautiful wood-burning fireplace in the living room for cold nights. Below the suite is a 2-car carport with a full storage room, providing both convenience and functionality. This property is exceptionally well-equipped for toys, vehicles, and equipment, RV electric hookup, full size shed, barn and a short walk to the creek with a beach. There is ample room to add stables, making this property ideal for horses, cattle, or other livestock. Located just a short drive from Lakewood Ranch and Sarasota, this gated property blends peaceful rural living with everyday convenience. With this estate-sized parcel property perfect for investors to rent out or expand on original structuress with unmatched flexibility—it is ready to enjoy today.
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.
