Save Big: 1% lender credit (based on loan amount) toward closing costs or rate buy-down with seller’s preferred lender. Ask for details! Experience comfort, style, and convenience in this beautifully maintained home, ready for its next chapter. Nestled on a quiet, well-kept street, this inviting residence offers the perfect blend of functional living space and thoughtful updates. Step inside to discover a bright, open layout filled with natural light and warm wood laminate flooring throughout, creating a welcoming atmosphere from the moment you enter. The spacious living areas are ideal for both daily living and entertaining, featuring a seamless flow and comfortable design. The kitchen serves as the heart of the home, offering ample cabinetry, generous counter space, and room for gatherings. The primary suite provides a private retreat filled with natural light and includes a spacious 4-piece ensuite bathroom designed for two, featuring a large soaking tub, a walk-in shower, and dual sinks for convenience. Additionally, two secondary bedrooms offer versatility, making them suitable for additional family members, guests, or a home office, along with another spacious full-size bathroom. One of the standout features of this home is its two thoughtfully designed outdoor living areas, perfect for enjoying Florida’s year-round sunshine. The screened patio, conveniently located just off the kitchen, creates a private setting ideal for morning coffee, casual dining, or relaxing evenings free from insects. Meanwhile, the sliding doors in the family room seamlessly connect to a second patio that overlooks the backyard, creating an ideal setting for weekend barbecues, yard games, gardening, or relaxation after a long day. Location is everything, and this home delivers. Davenport continues to grow as one of Central Florida’s most desirable areas, providing convenient access to shopping, dining, and entertainment. You’re just minutes away from Posner Park shopping and a variety of local restaurants, grocery stores, and everyday essentials. Commuters and theme park enthusiasts will appreciate the easy access to I-4, which leads to Walt Disney World, Universal Orlando, historic downtown Kissimmee, and Winter Garden. This single-family residence seamlessly combines peaceful neighborhood living with unbeatable Central Florida convenience.
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.
