One or more photo(s) has been virtually staged. Welcome to this stunning Florida-style home located in the gated Admiral Pointe section of the sought-after MiraBay community. From the moment you arrive, you’ll appreciate the beautifully landscaped yard, decorative curbing, brick-paver 3-car driveway and garage, and inviting covered front porch. Situated on a premium corner conservation lot, this home offers an open-concept floor plan featuring 3 bedrooms, 2 full baths, high ceilings, energy-efficient windows, tile flooring throughout the main living areas, upgraded lighting, and designer fixtures, crown molding and 5" baseboard. The gourmet kitchen is designed for both entertaining and everyday living with 42” wood cabinetry, granite countertops, a large center island, stainless steel KitchenAid appliances, and a 4-burner natural gas range and oven. Adjacent to the kitchen is a spacious dinette area and a convenient butler’s pantry that flows seamlessly into the dining room and expansive family room. The family room showcases a tray ceiling and impressive 9-foot sliding glass doors that recess to the screened lanai overlooking peaceful conservation views. The spacious owner’s suite features a large walk-in closet and an ensuite bath complete with dual granite-top vanities, double sinks, a large walk-in shower, a private water closet and linen closet. The laundry room is conveniently located off the kitchen and provides direct access to the garage, which includes overhead storage racks. The HVAC was replaced in July 2024. Additional features include a tankless gas water heater and irrigation system. Residents of Admiral Pointe enjoy access to their own private clubhouse and heated year-round pool for exclusive neighborhood events and activities. MiraBay is a premier waterfront, resort-style community offering exceptional amenities including a clubhouse, heated Olympic-style resort pool, 136-foot waterslide, parks, three playgrounds, fitness center, basketball and tennis courts, café with full liquor license, and a 135-acre lagoon where residents can kayak and paddleboard. This community truly delivers the feel of a luxury resort lifestyle every day. Conveniently located near Tampa, Orlando, Bradenton, Sarasota, and St. Petersburg, you’ll enjoy easy access to world-famous Gulf beaches, shopping, dining, and entertainment. Experience the Florida lifestyle you’ve been dreaming of in MiraBay.
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.
