Some would say this is the best site in Magnolia Park! Located in the gated Northeast section, the oversized lot is situated on a lovely pond with a fully fenced backyard. The property is surrounded by lush landscaping creating the feel of your own private tropical paradise. Step through the leaded glass front door where you'll be treated to an amazing home with volume ceilings and exquisite touches throughout from quality wood laminate flooring, topped with enhanced baseboard molding, to upgraded light fixtures and ceiling fans. Custom wood cornices crown the windows in the common areas. The open floorplan is perfect for today's lifestyle with integrated kitchen, dining and living area. Preparing meals may be one of the best parts of your day in this kitchen that features Whirlpool stainless steel appliances, granite countertops, closet pantry and a beautiful tile backsplash. The island provides plenty of prep space and room for additional seating. The owner's retreat is very spacious, has a walk-in closet, and a contemporary en suite bathroom. The split bedroom plan offers two additional room with a shared bathroom. The flex space at the front of the house is currently used as a formal dining room, but could be transformed to a den, office, game room or even a fourth bedroom. The laundry room has built-in cabinets and a functional utility sink, and is large enough to accommodate a folding table. If you love the outdoors, the lanai may be the best room in the house - fully screened, under roof with approx. 250 sq ft of space! Perfect for outdoor meals, coffee overlooking the pond and curling up with a good book on the weekends. Garage extension provides an additional 4 feet of length, so plenty of room for a workbench, extra storage or a longer vehicle. Recent renovations will save you money and headaches - roof - Nov 2024, water heater - Mar 2025, dishwasher - Jan 2026. Lawn maintenance provided by the community includes mowing, edging trimming, irrigation, fertilizer and pest control. (Owner is responsible for mowing/edging/trimming inside the fenced area.) Enjoy all of the community amenities - pools, parks and more! Magnolia Park is in an ideal location for easy access to Tampa, MacDill AFB and major thoroughfares. Shopping, dining and movie theatre nearby.
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.
