LET THE SUN SHINE IN! Come explore this waterfront beauty in Cedar Creek - North Sarasota, where serene pond views and indoor-outdoor living come together beautifully. This 3-bedroom, 2-bath home offers approximately 2,100 square feet of living space on a generously sized lot perfectly positioned to capture water views from nearly every room. Double front doors open to a vaulted-ceiling living room with sliders that immediately draw your eye to the sparkling pool and wide pond view beyond. The natural light pouring in creates a warm and inviting first impression that only gets better throughout the home. Designed for both comfort and entertaining, the layout includes separate living and dining rooms plus a stunning family room featuring a stone wood-burning fireplace and a full wall of custom built-ins adjacent to the kitchen. The bright kitchen offers shaker cabinetry, dark granite countertops, a pass-through window to the lanai, a newer dark stainless GAS range giving you the convenience of propane cooking — a true chef’s dream. All three bedrooms feature walk-in closets and mounted 50+” TVs, with the 2nd bath featuring a door to access the pool area. The spacious primary suite includes a custom-designed closet maximizing every inch of space and sliding glass doors that open directly to the lanai and pool. Outdoor living shines with four sets of sliders leading to the pool area, creating seamless indoor-outdoor flow. The large lanai is under roof, offering plenty of room to add an outdoor kitchen and dining area. The screened pool enclosure was replaced in 2024, and poured sidewalks surround the home for clean, easy access all around. For peace of mind, major improvements include • Roof replacement in 2021 • New A/C and water heater in 2022 - there are so many features here, get the full list! Low HOA fees of just $200/quarter and no CDD make this home even more attractive. Location is here as this community is just 4 miles from UTC and all it has to offer - restaurants, shopping, Benderson Park, and tons more close by! Don't let this opportunity pass you by!
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.
