One or more photo(s) has been virtually staged. Welcome to Lowell Village located in the central Carrollwood area of Tampa, Florida. This conveniently located villa on a quiet, dead-end street has 2 bedrooms and 1 full bath, with a full kitchen, living room with tall ceilings, ceiling fan, and a wood-burning fireplace, glass door sliders that lead out to a covered-screened in rear porch, no carpet anywhere, and a spacious backyard fully fenced in with vinyl fencing. The Kitchen is equipped with espresso appliances which include fridge, dishwasher, stove, hood, and counter-top microwave, granite counter top and back splash, and cabinet storage space with pantry/storage closet. The windows are high-impact for hurricane proof. The Samsung washer and GE Dryer is conveniently located inside the home in the laundry closet. Roof is about 7 years. This community features a sparkling pool, and handball courts. It is located within minutes from downtown, TPA (Tampa Intl. Airport), schools, famous Florida universities, shopping, local dining favorites, malls, and so much more. Whether you are looking for a great investment property, ready to start your journey in first-time home ownership, want to have a vacation home, or would like to downsize, this is your perfect chance for doing just that. HOA pays for community amenities, common ground areas, and front lawn mowing. Set your appointment up today for a private showing.
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.
