Luxury amenities await you in this beautifully maintained 3-bedroom, 2.5-bathroom, 2-car garage home in the active 55+ Medley neighborhood within the gorgeous Southshore Bay community! The garage features an under-stair closet, ceiling racks, and a second-story LOFT STORAGE room. No need for a costly storage unit; there's a space for everything right here! Plentiful highlights of this gorgeous home include: PAVER DRIVEWAY, QUARTZ COUNTERTOPS, diamond pattern CERAMIC TILE FLOORING in most of the home, CROWN MOLDING, WATER SOFTENER, TRAY CEILINGS, a covered front porch, and so much more. This OPEN CONCEPT floorplan splits a spacious living room area with custom accent wall with a lovely dining area and the show-stopping, COMPLETELY UPDATED KITCHEN. Stainless Steel appliances, backsplash, large ISLAND with bar seating, wall-mounted oven & microwave with separate cooktop & range hood, kitchen sink WATER PURIFICATION system, and an excess of countertop and cabinet space. Make your culinary dreams come true! The opulent primary suite boasts a deep WALK-IN CLOSET and an EN-SUITE BATHROOM complete with a DUAL-SINK VANITY, OVERSIZED SHOWER stall, and water closet. One of the secondary bedrooms features its own EN-SUITE BATHROOM with single-sink vanity and tub/shower combination. The third bedroom, currently used as an office, has French Doors and is only a few steps from the half bathroom with its single-sink vanity. The Laundry Room has cabinet storage as well as countertop space. The COVERED & SCREENED LANAI is more like extending living space with its indoor/outdoor carpet, ceilings fans, and fully ENCLOSED windows that can be opened to take in a breeze through the screen or closed if there's a chill. Entertain outside in comfort! Enjoy a wide range of resort-style amenities exclusive to living in Medley, such as their clubhouse, pickleball courts, resort-style pool, billiard room, ballroom, an on-site cafe & bar, and the state-of-the-art fitness center! In addition to these amenities are those available to all of Southshore Bay, most notably the incredible 5-acre crystal clear lagoon: kayak, paddleboard, swim, or visit the swim-up bar! Enjoy a carefree and relaxed lifestyle here, where everyday can feel like a vacation.
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.
