Welcome Home to an Active Lifestyle! This immaculate light-and-bright home, located in the Ridgewood Lakes/Del Webb 55+ community, offers 2-bedrooms, 2-baths, and a den/office. From the moment you enter, you will feel the specialness of a place that is loved, which boasts tile floors and plantation shutters in the living, dining, and kitchen areas, French doors opening to the den, enhanced lighting, granite countertops, a spacious laundry room, and epoxy flooring in the 2-car garage. The kitchen is a chef's delight with an oversized island, natural gas range, touchless faucet, and an abundance of cabinetry (including roll-out trays in the lower cabinets that maximize accessibility and organization by bringing back-of-cabinet items into easy reach). The kitchen leads to a screened lanai where you can enjoy your morning coffee. The Taft floorplan features split bedrooms which gives you and your guests privacy, while the home's security system and the community's manned gate, as well as the forthcoming new roof, provides peace of mind. You'll be amazed at all the amenities at your disposal in Ridgewood Lakes — the elegant 30,000+ square foot Montecito Clubhouse features a tavern (with live music, karaoke, trivia, and bingo), heated indoor pool/spa, state-of-the-art fitness center, indoor walking track, craft room, billiards, ping-pong, and a ballroom and outside you'll find a resort-style pool, screened-in gazebo overlooking a scenic lake, large brick fire-pit, amphitheater, community garden center, pickleball, tennis, bocce ball, basketball, and shuffleboard courts, fishing dock, dog park with a doggie watering station, and miles of picturesque walking/biking trails. Even your lawn is maintained. The White Heron golf course and White Nest restaurant are a short walk from the clubhouse. Nearby Ridgewood Lakes, you'll find shopping, restaurants, and entertainment in Posner Park, Advent Health Hospital, and major highways. Living in Central Florida means you're a just a drive away from many theme parks (including Disney, Universal, Legoland, Sea World, Bok Tower, and Kennedy Space Center) and a visit to the beaches on either coast. This lovely home at 545 Cantabria Drive in Davenport, Florida is a wonderful 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.
