POOL HOME, NEWER ROOF (2023), STORM SHUTTERS, HEATED POOL, UPDATED APPLIANCES, SPLIT FLOOR PLAN, VAULTED CEILINGS, OUTDOOR BAR, WALK IN CLOSETS, MINUTES TO MANASOTA KEY BEACH! Just a short drive to Manasota Key Beach, this 3 bedroom, 2 bathroom home with a 2 car garage offers over 2,000 sq ft of living space in Gulf View Estates. The outdoor space is built for Florida living with a spacious screened lanai, heated pool, outdoor bar with TV, and plenty of room to relax or entertain. Inside, you’ll find updated flooring, neutral finishes, and great natural light throughout. The kitchen features stainless steel appliances all replaced in 2023 including refrigerator, dishwasher, oven, and microwave, plus a new garbage disposal in 2025, and is positioned between the main living area with dining space and a separate family room, offering multiple living areas. The split floor plan provides privacy for the primary suite with dual walk in closets, dual vanities, and an updated steam shower, while both guest bedrooms also include walk in closets. Major updates include a new roof in 2023, storm shutters for added peace of mind, and a pool heater and pump installed in 2020. Located with easy access to 776 and Tamiami Trail, approximately 15 minutes to Historic Downtown Venice and 15 minutes to shopping and dining in Wellen Park.
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.
