Looking for a quiet, private 3 bedroom home with a brand new pool? Welcome to 5498 Gadboys Ave. This 2020 built home has a brand new heated, salt water pool and spa combo just built in 2024. The pebble tech finish will last a lifetime and you'll love the pavers all around this gorgeous pool area. Once inside you'll find a great room plan with cathedral ceilings that is open to an updated kitchen with Granite countertops, soft close doors and drawers, pretty tile backsplash, newer Frigidaire appliances and a breakfast bar. You'll also find a door leading to a separate screened lanai that overlooks a cozy firepit area. In the eat-in part of the kitchen is a slider to the pool area, but you can access the pool from either the screened lanai on the side or directly out of the kitchen. The easy care luxury plank vinyl is throughout the house and the roof is just 3 years old. Both guest bedrooms have a window making them both light and bright. The primary bedroom has an ensuite bath and a window overlooking the pool. You will also love the 2 car garage with finished floor, water softener was added is 2021 and there is a transferrable termite contract that has been paid for through April 2027. This truly is a peaceful setting with Magnolia trees and olive trees in a perfectly private backyard oasis where you will enjoy breathtaking sunsets over the pool! This 1 owner home has been meticulously maintained and is a must see if you are looking for a 3 bedroom pool 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.
