Welcome to 619 Rhodes Drive, a thoughtfully updated 3-bedroom, 2-bath home located in a quiet, established neighborhood just minutes from award winning Downtown Deland with easy access to I-4. Built in 2007, this home offers 1,881 heated square feet with a functional split floor plan and a bright, open living area featuring vaulted ceilings and natural light throughout. The kitchen has been refreshed with new soft-close cabinetry, natural granite countertops with a modern veined finish, brand new appliances, and a convenient layout that opens to the main living space, ideal for everyday living and entertaining. Major systems have been addressed, including a brand-new architectural shingle roof and a new high-efficiency Goodman heat pump system, offering peace of mind for the next owner. Bedrooms feature new carpet, while the main living areas kept a durable tile flooring. Additional upgrades include new ceiling fans, updated light switches, new bathroom faucets, a brand-new garage door and opener, and refreshed under-sink plumbing. The primary suite offers a spacious layout with distinctive bay-style windows that brings in plenty of natural light. Bathrooms have been partially updated, including new toilets and plumbing improvements. Outside, enjoy a large backyard with mature fruit trees, olive, mango, and citrus. You have a spacious rear porch with plenty of potential for outdoor living. A new rear fence is scheduled to be completed shortly. The property also features new gutters and downspouts. Enjoy a third parking pad space in the front of the house with gated backyard access for guests or ideal for storing equipment, trailers, or recreational items. This no HOA home offers a solid combination of location, major system updates, and usable space, making it a strong option for owner occupants or investors alike. Schedule your private showing today!
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.
