Offering over $23,000 in upgrades! Located in X Flood Zone with no flood insurance required, this beautifully maintained residence offers one of the best values currently available in the highly sought-after gated golf community of East Lake Woodlands. This is one of the newer homes in the community and an exceptional opportunity to own a high-quality property at one of the lowest entry points in ELW. Tucked within the quaint and quiet Pinnacle neighborhood in the desirable north side of East Lake Woodlands, residents enjoy access to a private community pool and peaceful surroundings rarely found at this price point. Welcome to 5163 Pinnacle Drive, a thoughtfully updated 3-bedroom, 2-bath home featuring a desirable split floor plan, soaring ceilings, crown molding, arched openings, decorative column accents, and custom soffit ledge details that create an open, airy feel throughout. Ceramic tile flooring runs throughout the home with no carpet, while abundant natural light enhances the spacious living and dining areas designed for both everyday comfort and entertaining. The kitchen is both functional and stylish with 42-inch cabinetry, stainless steel appliances, a breakfast nook overlooking the lanai, and new custom window treatments. Pocket sliding glass doors fully open to the outdoor living space, seamlessly blending indoor and outdoor living. Enjoy a private screened and covered patio with pavers, an open-air grilling area, lush new landscaping with upgraded irrigation, and a relaxing in-ground spa perfect for unwinding year-round. The oversized primary suite offers three closets and a spacious en-suite bath with double vanities, a garden tub, and a walk-in shower with built-in bench seating. Two additional bedrooms and a full bath are located on the opposite side of the home, offering privacy for guests or family. Extensive updates and improvements include a 2019 roof, 2022 4-ton HVAC system, 2023 spa equipment, 2023–2025 appliances, 2024 exterior paint, whole-house insulation and surge protection, surround sound, garage organization systems, and more. The garage is exceptionally well-equipped with built-in cabinetry, slat-wall storage, overhead storage racks, and a ceiling-mounted air/electric/light station. The home has also been recently inspected by a professional contractor, including both a 4-point inspection and wind mitigation report. Monthly maintenance fees provide low-maintenance living and include lawn care, exterior painting, pressure washing, trash and recycling service, Spectrum cable and internet, and community pool access. Optional membership to the East Lake Woodlands/Ardea Country Club offers two championship golf courses, tennis, pickleball, fitness center, resort-style pools, dining, and year-round social activities. Homes on Pinnacle Drive rarely become available. Don’t miss this opportunity to own a move-in-ready home in one of Oldsmar’s premier gated communities.
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.
