This vintage 1960’s home has 3 bedrooms plus a large study off the family room, it’s a well-maintained step back in time, perfect for one who loves the mid-century style. Perched on a hill…really…and across the street from the Hillsborough River, on almost half an acre. If updating is your fancy, the hard work is out of the way, the roof, HVAC, and ductwork were replaced in 2019, the home has also been re-piped, so one need only focus on the cosmetics. If entertaining is your thing this home is perfect! The spacious formal living and dining room open through sliding glass doors (as does the family room) to an oversized screened room with a vented brick base waiting for a grill. Open those sliding glass doors and let the traffic flow. The kitchen opens to the family room with a breakfast/serving bar and a visual focus on the full masonry wood burning fireplace. The extended raised seating hearth is perfect for backing up to the fire on that rare cold day. The oversized office/library has a built-in desk area with cabinets, shelving, and a large storage closet. It opens to the family room through double pocket doors, so it is easily closed off for privacy. The 3rd bedroom also has a built-in desk, shelving and a Murphy bed! The current owner worked from home and had a lot of heat producing computer equipment, so a mini split was installed for extra comfort. Original parquet flooring runs through the study, family room, and hall to the bedrooms. The primary bedroom has TWO walk-in closets with built-ins, an en-suite bath with the vanity area separated from the shower and w/c affording extra privacy. Sliding glass doors open to a brick patio and the lush backyard with plenty of room for a pool, or just a happy gardener. A great place to watch the sunset in the evening or have an outdoor meal. The paver brick circular drive affords additional parking, as does the area behind the oversized side entry garage. The vintage cracked tile front entry welcomes you to the front door with a beautiful wrought iron screen door that allows you to open up in mild weather and let the fresh air flow. There is an irrigation well to maintain the lush landscaping, quite a money saver in these dry months. Located in close proximity to the Temple Terrace Golf and Country Club, this is a golf-cart friendly community with cart tunnels under Bullard Parkway for safe travel. Also close to schools, the public library, parks (one with a public boat ramp to the Hillsborough River), the TT Rec Center and everything our little city has to offer. Only minutes from USF, Advent Hospital, the VA, all the surrounding medical facilities, I-75, I-275, I-4 and the Crosstown Expressway. The TTG&CC offers a complimentary 3-month social membership to new homeowners.
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.
