Assumable VA loan! A truly stand-out, newer construction home with hard-to-find features including a cul-de-sac location easily walkable to the middle school, fully-fenced back yard lined with trees for privacy, upgraded interior finishes, dimmer switches on every light fixture, and just a 5 minute drive to all other schools, Publix, and shopping. Also, save hundreds per year on electric bills and insurance costs with energy-efficient finishes and wind-mitigating features! With 4 bedrooms and 3 bathrooms, this home provides plenty of space for everyone! A downstairs primary suite, downstairs laundry, and additional downstairs bedroom and full bathroom provide the ideal layout for multi-generational living, and the two upstairs bedrooms share a nicely appointed third bath. Upscale kitchen features like custom cabinetry, granite countertops, under-cabinet lighting, and a huge island with additional seating give a feeling of culinary luxury to the open-concept living space. With a clear view from the kitchen to the huge dining area and living room, entertaining is a breeze! The entertaining space continues out on the back patio with a beautiful view of the trees lining the back of the property; just add some cafe lighting to the fence for the perfect private summer grill-out ambiance. When it’s time to retire for the evening, the primary suite is a peaceful retreat with a lovely view of the trees in the back yard. Adding to its allure are two closets (one oversized with a special lighted nook), large soaker tub with privacy window for natural light, separate shower, and elevated dual-sink vanity with granite countertop. This property is better than new construction because it already has gutters, blinds, a refrigerator, and a fence. This home truly has it all in one of the best school districts in Florida! Call today to schedule your 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.
