Your ideal home awaits you in the highly sought-after community of Maple Ridge Reserve, Ave Maria! Seller is motivated and contributing $10,000 towards Buyer's Closing Costs. Bring your offer!! This stunning one-story home, built in 2021, perfectly combines elegance, comfort, and space for your family. It features 3 generously sized bedrooms, including a spacious master that offers extra room for your comfort and relaxation, a versatile loft, and 2.5 bathrooms—providing all the space you need to live and unwind. Plus, its location just steps from the Clubhouse gives you immediate access to the incredible amenities this exclusive community has to offer. Enjoy a modern kitchen equipped with built-in cabinets, a walk-in pantry, and included appliances, designed to inspire the chef in you. The home also boasts an advanced whole-house water purification system that supplies clean, healthy water throughout, including the kitchen sink. Abundant natural light fills every room, creating a warm and inviting atmosphere. Built with high-quality materials—including concrete block construction, a tile roof, and impact-resistant windows—this residence also offers a two-car garage and a spacious backyard of nearly 7,841 sqft, perfect for creating your private oasis with a pool or outdoor entertainment area. Living in Ave Maria means enjoying a vibrant and secure community with a clubhouse pool, fitness center, library, parks, bike and walking trails, as well as nearby restaurants, Publix supermarket, university, and essential services like police and fire departments just minutes away. With no pet restrictions and equipped with washer, dryer, dishwasher, microwave, and refrigerator, this home is move-in ready and waiting for you to start living the life you deserve.
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.
