Tucked away in the coveted Bahama Shores neighborhood of South St. Petersburg, this extraordinary custom residence blends timeless craftsmanship, refined luxury, and relaxed coastal living just moments from Tampa Bay. Situated on an oversized lot surrounded by lush tropical landscaping, this impressive 4 bedroom, 4 bathroom home offers exceptional space, character, and functionality both inside and out. From the moment you arrive, the striking curb appeal, expansive brick paver driveway, mature palms, and architectural presence set the tone for what awaits inside. The thoughtfully designed interior showcases a seamless mix of warm hardwood flooring, rich custom millwork, soaring ceilings, and expansive living spaces filled with natural light. The gourmet kitchen is a true centerpiece featuring custom wood cabinetry, stone countertops, stainless steel appliances, wall oven, built-in microwave, a center island, and generous prep and storage space ideal for entertaining or everyday living. The spacious main living areas offer effortless flow between formal and casual spaces, including a stunning great room with elegant finishes, a formal dining area, breakfast nook, and multiple gathering spaces designed for comfort and entertaining. A dedicated game room with a custom built-in bar, billiards area, and nautical-inspired details creates the ultimate entertainment retreat. Additional flex spaces provide endless possibilities for a home office, library, fitness area, or guest accommodations. The private primary suite serves as a peaceful escape with oversized proportions, beautiful natural light, and a spa-inspired ensuite bath with contemporary finishes and dual vanities. Generously sized secondary bedrooms and updated bathrooms provide comfort and flexibility for family and guests alike. Outdoor living is equally impressive with an expansive covered lanai spanning nearly the entire rear of the home, complete with a fully equipped outdoor kitchen, multiple seating areas, and tranquil views of the oversized backyard. The spacious yard offers plenty of room for recreation, future pool possibilities, or simply enjoying the Florida lifestyle year-round. Solar Panels are owned free and clear and provide an ample amount of power for a low monthly cost. Located just minutes from waterfront parks, marinas, downtown St. Petersburg, dining, shopping, and vibrant entertainment, this one-of-a-kind property offers the perfect blend of luxury, privacy, and location in one of St. Petersburg’s most desirable neighborhoods.
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.
