The ultimate live-work property: a fully developed contractor compound with a high-capacity workshop and an energy-efficient ICF home on ~1 acre. Perfect support for both your business and your family's lifestyle on one property. Located in Buckingham, one of the few remaining areas of Lee County WITHOUT HOA restrictions. Possibly doing business directly from the property, eliminating commercial rent while generating additional income from the shop and storage yard. Whether you occupy the facilities yourself or lease them, the infrastructure is already in place. Built by a contractor for a contractor, this workshop was designed for functionality, durability, and efficiency. • Post-and-beam construction with stucco exterior• Metal roof designed for Southwest Florida weather • 6-inch reinforced concrete drive-through floor• Dual 14-foot roll-up doors with full drive-through access • Independent 200-amp electrical service• Dedicated welding area with fireproofing• RV hookup • Two mezzanine storage levels• Air-conditioned private office with mini-split system • Digital keypad entry• Interior and exterior security camera system with hard-drive recording• Independent Wi-Fi connectivity• The property consists of four lots totaling approximately one acre in a functional L-shaped configuration designed to separate business operations from residential living. The workshop, equipment storage areas, and home each have dedicated space, allowing work activities to operate independently from family life.• Separate fencing from business areas • Mature privacy landscaping• Pergola and fire pit area• Private outdoor living space• Secure environment for children and pets. • Dedicated fenced storage area• Direct access between shop and equipment yard • Separate driveway and culvert• Easy trailer and equipment movement • Additional parking• Well for irrigation and future utility use• Potential for future expansion or additional structures. THIS HOME IS SOLID. built in 2007 using Insulated Concrete Form (ICF) construction, the home offers exceptional durability, energy efficiency, and storm resistance. Features include:• ICF poured concrete construction• Hurricane-impact windows throughout• New metal roof • New HVAC system• Dedicated garage HVAC unit• New water softener• New appliances, washer, and dryer • Updated flooring in bedrooms• Fresh interior paint• Walk-in closets in all but one bedroom• New garage door • Oak cabinetry• Exterior security camera system with mobile access.• • Minutes from Home Depot, Sunbelt Rentals, Ferguson, and major trade suppliers• Quiet residential setting• No HOA• No deed restrictions• No commercial parking limitations Park your trucks, trailers, equipment, and work vehicles on your own property.
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.
