One or more photo(s) has been virtually staged. Welcome to this well maintained home in the heart of Davenport! This home has the perfect blend of comfort, and convenience. This spacious property with over 2,700 SF of living space, features an OPEN-CONCEPT layout designed for both everyday living and entertaining, yet also offers a TRADITIONAL layout for added versatility. As you enter the front door, your formal dining room (or formal living room) area. Tucked back, you will find the BONUS room area perfect for an office space or an extra lounge area. The inviting family room flows seamlessly into a cozy dining area and well-appointed kitchen with ample cabinetry, and granite countertops. Upstairs, the surprising LOFT area leads you to the over-sized primary suite which provides a relaxing retreat with a private ensuite complete with a garden jacuzzi tub and TWO walk-in closets! The additional bedrooms give you flexibility for family, and guests, and can easily fit king-size beds, comfortably. Outside, off the dining and family area, you can enjoy the SPACIOUS, almost fully fenced, backyard space perfect for relaxing, grilling, or creating your own outdoor oasis. The possibilities are endless with all the space! Conveniently located near shopping, dining, major highways, attractions, and Central Florida’s world-famous theme parks, this home has both tranquility and accessibility and not to mention endless options or possibilities! Enjoy added peace of mind, energy efficiency and VALUE, with major system UPDATES already completed, including a 2021 ROOF, 2020 upstairs AC, and 2024 downstairs AC. Your future home includes solar panels — providing valuable long-term savings! Whether you are searching for a primary residence, vacation home, or investment opportunity, this property is one you won’t want to miss! Schedule your private TOUR today, so you can see it in person and appreciate its space, layout and versatility.
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.
