Step into a lifestyle of historic elegance, modern luxury, and unmatched flexibility on one of St. Petersburg’s most coveted brick-lined streets. Situated on a rare, sprawling 90x127 double lot with NO HOA, this masterfully updated 1925 Spanish Mediterranean treasure offers a private coastal sanctuary designed for modern living. Whether you are looking for a multi-generational estate, a premier work-from-home setup, or a high-yield income producer, this property delivers a lifestyle that simply cannot be replicated. The main residence welcomes you with timeless architectural romance, glowing hardwood floors, an elegant fireplace, and sun-drenched living spaces framed by classic French doors. The bright, updated chef’s kitchen seamlessly handles everything from quiet morning coffees to grand evening gatherings. Turn-key peace of mind is yours with extensive recent upgrades, including brand-new energy-efficient windows, a newer roof, and fully modernized electrical systems. Behind the main home lies your own private, resort-style compound. The crown jewel is the fully detached Accessory Dwelling Unit (ADU)—a rare asset in St. Pete perfect for rental income, long-term guests, or an inspiring creative studio. The massive, fully fenced backyard is an entertainer's paradise, boasting a pristine above-ground pool to cool off on hot summer days, fire pit, a custom built-in playground for endless outdoor fun, and dedicated storage alongside an oversized detached garage/workshop for all your tools and beach gear. Perfectly positioned just minutes from the vibrant energy of downtown St. Pete, local boutique shopping, and the world-class white sands of the Gulf beaches, this historic compound offers a rare combination of space, income potential, and premium location. Properties with this caliber of land, character, and an independent ADU are virtually impossible to find. Schedule your private tour today and secure your piece of St. Pete history.
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.
