MOTIVATED SELLER is willing to offer an assumable VA loan and is currently awaiting offers for this beautiful residence. This charming Key West-style lakefront home blends timeless design with modern updates, creating a welcoming atmosphere in the highly desirable River Place community of Port St. Lucie. The 1,499 sq ft layout emphasizes comfort and convenience, featuring a spacious open-concept kitchen that seamlessly connects to the family room—ideal for entertaining or spending quality time with loved ones. Upon entering the home through the front entryway, you are greeted by an open-concept living room and dining room, offering a versatile space for relaxation and gatherings. The back wrap-around screened porch, complete with plank wood ceilings, serves as a peaceful retreat where you can enjoy stunning lake views and fresh breezes throughout the year. The third bedroom, enhanced by elegant glass French doors, offers flexibility and can be used as a guest room, home office, or creative space to suit your needs. The primary suite is a true retreat, featuring sliding glass doors that open directly to the screened porch and frame tranquil water views, providing a restful and private sanctuary. " Durable tile flooring throughout for low-maintenance living " Metal roof " 2024 AC fan motor " 2024 washer and dryer " Hurricane panels for storm protection " Irrigation/well system and surge protector " Paver driveway for added curb appeal " Classic fiber-cement siding with a durable metal roof River Place is celebrated for its beautifully maintained green spaces and resort-style amenities, including a clubhouse with pool and private boat ramp to the scenic St. Lucie River. Residents also enjoy access to basketball, baseball, and soccer fields, as well as a children's playground. Low HOA fees cover lawn care, exterior pest control, and tree trimming, ensuring hassle-free maintenance. Enjoy the perfect balance of privacy and accessibility. The home is conveniently located just five minutes from Publix, shopping centers, and a variety of local dining options. This residence offers more than just a place to liveit provides an exceptional lifestyle in a serene lakefront setting.
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.
