VA Assumable Mortgage at 2.75% interest rate for VA Buyers! Traditional Elegance in the mature, tree-lined neighborhood of Belle Meade. This is a rare opportunity to own a gorgeous Author Rutenberg .35-acre estate (90 x 169 lot) on a low-traffic cul-de-sac street. This spectacular, turn-key 4 bedroom + 3 bath pool home has over $175,000 in upgrades since 2020! The outdoor oasis feels like a park with a 1,450 foot screened-in lanai with a saltwater solar heated pool, an outdoor kitchen, a huge backyard with an outdoor fire pit area and playground. The landscaping was beautifully upgraded to include outdoor lighting, a custom expansive driveway with Flagstone pavers, and a fully fenced yard. The foyer entryway opens into a formal dining room and formal living room with luxury vinyl floors and cathedral ceilings. The Chef's kitchen showcases 42” wood cabinetry with Quartz counters and a tile backsplash, a large island with a mitered edge, a stainless-steel appliance package, and custom pantry. The kitchen opens into a second dining area plus a spacious family room with vaulted ceilings and a wood-burning fireplace with custom shelving. All of the living rooms have expansive sliding doors that pocket behind the wall, perfect for indoor-outdoor living. There are two wings that are adjacent to the living room. Each wing has a fully remodeled bathroom and the remaining guest bedrooms. The spacious primary suite has a sliding door that pockets behind the wall and offers views of the pool and backyard. The primary bathroom was beautifully remodeled in 2020 and highlights a double vanity with Quartz counters, an oversized shower with seamless glass, and a garden tub and a large walk-in closet with custom cabinetry. Additional Upgrades include: NEW Dimensional Shingle Roof 2020, NEW AC 2021-25, NEW Whole-house PEX Plumbing 2025, Hot Water Heater 2020, Luxury Vinyl Flooring 2026, Custom Kitchen 2020, Custom Closets & Pantry 2025, Whole Home CAT6 Wiring 2023, Wi-Fi Water Softener & Reverse Osmosis System, Smart Sprinkler System, NEW Driveway Pavers 2025, NEW Gutter System 2025, Exterior Paint 2020, Interior Paint 2020, Window Film 2020, Exterior Fence 2020, Pool System to include Solar Heater, pump, filter 2020-24, Three Remodeled Bathrooms 2020, Painted Pool Deck 2020, Custom Laundry Room with a front load Washer and Dryer 2025, and more. Located in the top rated Steinbrenner school district. Odessa offers a variety of shops, restaurants, parks, playgrounds, golf, and more. Easy access to the Veteran’s, Airport, Downtown, & 45+ minutes to Clearwater/St. Pete beaches.
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.
