How would you like to wake up 15 minutes from the beach, head up and catch a sunrise and breakfast right on the beach at Dune Deck in Lantana, and have all of your closing costs paid? You bring the down payment. The rest is on us. This is 1,718 square feet of 2017 construction in Palm Beach County. Two bedrooms, two-and-a-half baths, one-car garage — and Smart Start Grant eligible for up to $15,000 toward your closing costs. What you're getting: Entry living room flows to kitchen with granite countertops, peninsula bar, dark real wood cabinets, and stainless steel appliances. Opens to a large great room with 20-inch tile throughout and sliding glass doors to a fenced backyard. Two oversized suites upstairs, each with their own full bath. Primary suite has dual vanities and corner walk-in shower. Half bath downstairs for guests. The backyard has room for cookouts, space to add a jacuzzi, or install a paver patio area with gazebo for the perfect outdoor entertainment setup. Enjoying what South Florida has to offer year-round is exceptional whether you're here full-time or seasonally. The advantage most buyers miss: This is two bedrooms, not three — but here's why that's actually better. The 3-bedroom units in this community are the exact same 1,718 square feet. They just chop up the space into smaller bedrooms instead of giving you two genuine master suites. You're getting more usable bedroom space, two full bathrooms upstairs, and better layout flow. Plus, you're the least expensive unit currently available in The Groves. The location creates rental demand that most properties can't match: Palm Beach State College is two minutes away — perfect for professors relocating for new positions or graduate students who want quality housing. The garage sets this apart from 90% of the rental inventory. Use it for your car, convert it to a workout space, or store a jet ski or small boat for weekend runs on Lake Osborne, which is literally around the corner. Weekend life gets real when you're this close to the water. Launch from Lake Osborne for tubing, wake surfing, or hydro sliding. Dock at The Hive restaurant for lunch without leaving the boat. When you want salt water, Lantana Beach is where locals catch sunrise, and Keylime House sits right on the Intracoastal for waterfront dining. Everyday convenience: Tacos El Carbon for late-night food. Country Inn around the corner for breakfast. Atlantis Country Club has both private and public courses. The real trade-off: If you absolutely need three bedrooms for kids, keep looking. But if two works — you're getting superior room sizes and bathroom access compared to the cramped 3-bedroom floor plan. This works for couples, single professionals, college faculty, or investors who understand that newer construction near the beach and college consistently rents for $2,800/month in this corridor. The money reality: 2017 construction keeps insurance reasonable. Accordion shutters all around. HOA is $230/month and covers lawn care, exterior maintenance, and community pool access. Plenty of driveway space for additional parking. Smart Start Grant covering up to $15,000 of your closing costs. Year-round outdoor entertainment potential and positioned for both lifestyle and investment return in one of Palm Beach County's most rental-friendly locations.
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.
