Where modern design meets relaxed coastal living, this upgraded block construction residence in St. Petersburg’s sought-after Pinellas Point neighborhood delivers a compelling blend of style, comfort and location. In flood zone X with no required flood insurance, the home offers three bedrooms and two baths across 1,704 square feet of thoughtfully curated living space. The fully remodeled chef’s kitchen anchors the home with custom cabinetry, Chevron butcher block countertops and a six-burner natural gas range. An expansive island with breakfast bar is complemented by a built-in wine and coffee station with wine refrigerator, creating a natural gathering space well-suited for everyday living and entertaining. Just beyond, the sunken living room opens to a screened lanai and deep swimming pool, enhanced by a hurricane-rated tiki hut that establishes a private, resort-style retreat designed for year-round enjoyment in the Sunshine State. The primary suite features pool views, abundant natural light and an en-suite bath, while the guest bath offers convenient pool access. Additional interior highlights include premium luxury vinyl plank flooring throughout, plantation shutters, a guest bedroom with Murphy bed, a 2024 HVAC system with UV light, a new tankless gas water heater, and a whole-home water filtration and softener system supporting everyday comfort and livability. On an oversized lot, the outdoor space offers exceptional flexibility with ample room for boat, RV, jet ski, kayak or paddleboard parking and storage. The generous yard also allows for gardening, a dog run or expanded outdoor living. A rear gated driveway leads to a two-car garage, while fully paid solar panels contribute to long-term value and operational savings. Ideally near Maximo Park’s boat launch, trails and waterfront amenities, with quick access to downtown St. Petersburg, award-winning Gulf beaches and major interstate routes, this home offers an effortless connection to the best of coastal St. Petersburg living.
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.
