AMAZING LOCATION! LOW MAINTENANCE LIVING! ASSUMABLE VA LOAN balance at 2.5% for qualifying buyers. Enjoy low-maintenance living in this 3/2/2 villa located in the gated community of Phoebe Park. The sellers have taken great care of this villa and for your convenience added a Smart Thermostat, energy saving SOLAR PANELS, new HVAC unit (2022), new garbage disposal, new kitchen range, upgraded the bathrooms and repainted the interior. Take advantage of the excellent location - this home is just a short distance from FishHawk Creek Elementary and Park Square. Beautiful laminate floors greet you at the entry and extend through the Living room and primary bedroom. The sizable kitchen boasts ample cabinetry, as well as a closet pantry which provides plentiful storage, and laminate counters for durable preparation space. The kitchen comes fully equipped with a full appliance suite including refrigerator, range, dishwasher, and microwave. Just off the kitchen is a separate laundry room and access to the 2 car garage. The private primary suite features a tray ceiling and sliding glass doors that open to the screened lanai, a large walk-in shower, water closet, double-basin vanity and 2 separate closets. The two secondary bedrooms and 2nd bath are located on the opposite side of the villa. A private community pool is available for the exclusive use of Phoebe Park residents and their guests. Other award-winning amenities include 30+ miles of trails, fitness centers, resort-like pools, basketball & tennis courts, and community activities to name just a few! Complete lawn maintenance, including mowing, shrub pruning, irrigation system service, turf, and plant fertilization and plant pest control are provided by the HOA saving you time and money! Owner has assumable VA loan at a very LOW rate!
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.
