Are you ready for weekend floats in the pool? The grill is fired up. The kids are splashing about, laughing, and actively entertained all summer. This home offers a lifestyle upgrade right in the heart of North Port. Here you have the perfect blend of comfort, flexibility, and privacy — all on CITY WATER. For those of us that have battled the stinky well water, we know how much value this upgrade adds. Step inside to a spacious layout designed for both everyday living and entertaining. The oversized kitchen is the true centerpiece of the home, featuring abundant counter space and a large breakfast bar that easily becomes the gathering spot for morning coffee, homework sessions, or an evening toast with friends. The open flow into the main living areas keeps everyone connected. Retire at night to your bedroom split from the others and Calgon your cares away in a relaxing bubble bath. The garage has been purposefully converted, and includes a dedicated office space complete with its own private exterior entrance — ideal for a home business, remote work setup, studio, therapy space, or even a private guest retreat. The separate entry creates flexibility while maintaining the privacy of the main home. All in the comforts of air conditioning. This space adds an additional 545 sq ft to your footprint. What a great FOURTH BEDRROM. Out back, your private yard becomes your personal retreat. Enjoy sunny afternoons floating in the pool, weekend BBQs, or peaceful evenings under the stars. The backyard offers privacy and room to unwind without feeling exposed. Whether you’re working from home, hosting friends, or simply enjoying quiet Florida evenings poolside, this North Port home delivers versatility and the option for MULTI-GENERATIONAL living. Plus you are just a short drive away from dining, retail and entertainment. North Port offers a family centric community with great schools, recreational opportunities and activities for all age levels. The walls will be filled with your family pictures and your mind filled with fond memories created in this home.
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.
