One or more photo(s) has been virtually staged. With a low-maintenance villa lifestyle, you have more time to enjoy your hobbies, travel, or begin your next chapter of life in Florida! Lawn maintenance is done for you, so take that off your to-do list and start enjoying your new home and community in Baytree! From the beautiful entrance to the Baytree neighborhood with tree lined streets and manicured landscaping, you can enjoy a stroll on the sidewalks, chat with neighbors, or walk to the community pool and clubhouse. A lovely glass door welcomes guests to your villa. The tidy kitchen with updated granite counters makes for easy meal preparation and is open to the dining area and living room. Easy care luxury vinyl plank floors throughout the home will work well with any décor! Enjoy the views of the greenspace and pond from the screened-in back porch with your favorite beverage. Each bedroom has an en-suite bathroom, and nice closet storage space. The primary bedroom overlooks the rear green space and has a walk-in shower. The secondary bedroom faces the front of the property and has a tub/shower. The front door and garage access door were recently replaced, the roof in 2022, and the HVAC in 2020. A lovely glass door welcomes guests to your villa. The tidy kitchen with updated granite counters makes for easy meal preparation and is open to the dining area and living room. Easy care laminate floors throughout the home will work well with any décor! Enjoy the views of the greenspace and pond from the screened-in back porch with your favorite beverage. Each bedroom has an en-suite bathroom, and nice closet storage space. The primary bedroom overlooks the rear green space and has a walk-in shower. The secondary bedroom faces the front of the property and has a tub/shower. The front door and garage access door were recently replaced, the roof in 2022, and the HVAC in 2020. Ready to make this your next address - this villa can be yours with a quick closing!
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.
