One or more photo(s) has been virtually staged. SELLER IS OFFERING $5000 TOWARDS BUYER'S CLOSING COSTS, 1 YEAR HOME WARRANTY WITH AN ACCEPTED OFFER BY 12/31 AND THIS HOME HAS AN ASSUMABLE VA LOAN AT 2.99%!!! Just minutes to Downtown St Pete and I-275, in a location where you can WALK TO IT ALL (Say goodbye to parking lot chaos) Crunch Fitness, Publix, Whole Foods, Starbucks, El Cap, Allendale Park and more! With 2 bedrooms and 2 bathrooms this bungalow absolutely nails the “feels like home” vibe the second you walk in. The open floor plan connects the living, dining and kitchen space with plenty of room for hanging out or hosting friends. The large kitchen has shaker cabinets, stainless steel appliances and tons of counter space, with its very own side entry-perfect for unloading groceries! Step out to your covered patio ideal for lazy evenings, BBQs or a glass of wine rain or shine. The guest room has a big walk-in closet and loads of natural light with a guest bath conveniently located in the hallway while your main ensuite features double closets and a private bath to keep things stress-free. Both bathrooms are updated with new sinks, vanities and travertine tile. Inside laundry room and an extra storage shed? Yup, it's got that too! The fully fenced yard offers privacy and there's even room to add a pool. The OVERSIZED LOT with a street to alley driveway offers plenty of room for the boat or RV. Remodeled in 2016 to include the roof, plumbing, electrical and a new AC in 2024. Flood Zone X and no damage from last year's storms. Schedule your showing 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.
