Welcome to this spacious, move-in ready 3 bedroom, 2 bathroom manufactured home, perfectly situated on a half-acre in Arcadia, Florida. Offering 1,629 SF of living area and a desirable split bedroom floor plan, the heart of this home is the bright and cheery living room, dining area and kitchen, filled with natural light and equipped with a pantry, white cabinetry and appliances, an island perfect for meal prep, and plenty of counter space. The primary bedroom offers wood laminate flooring and views of the backyard, making it a peaceful retreat with its en-suite bathroom featuring a walk-in shower with glass doors, a garden tub, double vanity, and a large pass-thru closet. Two guest bedrooms also feature walk-in closets and wood laminate flooring, making them ideal for family, guests, or a dedicated work-from-home or hobby room. The guest bathroom has a single vanity and shower/tub combo, and sits across the hall from the Laundry Room. Just outside the kitchen, you step onto the covered rear porch (with ceiling fan) and down into the screened patio. The fully fenced .5 acre yard- partially shaded by mature oak trees- gives you the yard you’ve been needing to grow your own garden, store your work equipment, or simply enjoy the privacy. A 15x21 metal storage building serves as a great workshop, with lighting and electrical is ready for your tools. Alongside the workshop, a covered area with brick pavers is the perfect setup for outdoor grilling. The detached carport and additional storage shed in the front of the home provide covered parking and an ideal location for seasonal storage. Lots of storage in and outside this home! Additional features include new shingle roof (2023), new septic drainfield (2024), knockdown drywall ceilings, upgraded light fixtures and fans, and 2-inch faux wood blinds in the common areas. From this location in southeast DeSoto County, you are just minutes away from shopping in Arcadia or Port Charlotte, with easy access to I-75 in Punta Gorda. This home gives you the space and privacy you’ve been looking for, without sacrificing 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.
