One or more photo(s) has been virtually staged. SELLER MUST SELL & HIGHLY MOTIVATED!! SNOWBIRD/END OF YEAR SPECIAL ON A RARE HOME LISTED FAR UNDER MARKET VALUE!! SELLER OFFERING $20,000 IN CONCESSIONS FOR BUYERS CLOSING COSTS/INTEREST RATE BUYDOWN!! Experience the epitome of luxury living in this stunning waterfront Spanish Mediterranean home, meticulously crafted by John Cannon’s Executive Series. Nestled in the prestigious Bay Estate of Mirabay, this residence showcases breathtaking manicured landscaping featuring vibrant pink bougainvilleas, towering palms, and a grand pavered driveway that exudes an enchanting curb appeal. Step through the grand double doors and be transported to a Mediterranean charm and beyond. Every inch of this home is a masterpiece, with artistic hand-painted accents throughout. Soaring ceilings, classical columns, exposed wood beams, and intricate crown molding create an ambiance of timeless elegance. Rich Brazilian cherry hardwood floors and authentic Mexican terracotta tiles set a warm, inviting tone. Fully renovated gourmet kitchen is a culinary dream, boasting dark, luxurious cabinets, Brazilian granite countertops, a genuine copper sink, a massive island, state-of-the-art appliances, and a spacious coffee bar/pantry with a beautifully hand-carved Turkish wooden door. Large family room invites you to gather with loved ones, featuring a built-in bar ideal for crafting the perfect cocktail and creating joyful moments with guests. This space is designed for relaxed entertaining and memorable gatherings. Magnificent master suite, featuring a generous sitting area with bay windows, sliding doors to the covered lanai and pool, tray ceilings with double crown molding, and two expansive California closets. Spa-like master bath offers dual vanities, a garden tub as a focal point, and a large walk-around shower, creating a private sanctuary. On the opposite wing, discover two sizable bedrooms with elegant bathrooms, and a convenient laundry room. Notice the custom hand-carved risers as you head upstairs, where you will find a versatile bonus room with balcony access offers stunning views of the sprawling lagoon, while an additional guest suite with its own private balcony provides comfort and privacy for visitors. Other features include impact windows that offer panoramic views, while providing peace of mind during storms. Upgraded lighting and ceiling fans throughout creates a warm and inviting ambiance, accentuating the exquisite finishes and elegant architecture. Relax and unwind in the serene pool and jacuzzi overlooking the water, or enjoy the multiple outdoor sitting areas. Cozy up by the outdoor fireplace in cooler months or host unforgettable gatherings in the outdoor kitchen and grill area. Included with the property is a meticulously maintained 27-foot Crownline boat, a 2003 model that has recently undergone a complete rebuild. A powerful 10,000-pound boat lift is also included, providing secure and easy mooring for your vessel. Whether you’re hosting gatherings, enjoying mornings on the water, this property offers the perfect combination of elegance, functionality, and recreational opportunity. Located within the Mirabay community, you'll have access to a host of amenities for every family member—tennis, pickleball, resort-style pools, a large lagoon for water sports, dog parks, playgrounds, and more. This exquisite home offers the perfect blend of artistic elegance, modern luxury, and vibrant community life—an extraordinary place to call home.
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.
