Fantastic opportunity to own a fully updated, turn-key duplex tucked away in a quiet Altamonte Springs cul-de-sac. Backing up directly to serene Audubon of Florida conservation land, this property offers the perfect blend of suburban peace and prime rental demand. Perfectly configured for a savvy investor looking for immediate cash flow, or a house-hacker wanting to live in one beautifully updated unit while the neighbor pays the mortgage. The Layouts: 695 Belflower Pl: A spacious, 2-story townhouse layout (~1,235 sq. ft.) featuring dramatic vaulted ceilings and a cozy fireplace. 693 Belflower Pl: A highly functional, single-story layout (~1,183 sq. ft.) offering easy, accessible living. Both sides feature highly desirable 2-bedroom, 2-bathroom configurations with independent utilities. Peace of Mind Built-In: Unlike most multifamily properties on the market, the expensive capital expenses have already been handled for you: Plumbing: Completely replumbed (695 done in 2020; 693 done in 2014) — no polybutylene worries! HVAC: 695 system replaced in 2024; 693 system replaced in 2016. Water Heaters: 695 replaced in 2020; 693 replaced in 2023. Appliances: Outfitted with brand-new appliances throughout, ensuring low maintenance overhead for years to come. Located just minutes from Cranes Roost Park, Uptown Altamonte, excellent shopping, dining, and seamless I-4 access. Properties with this level of mechanical updates and premium location rarely hit the market. Bulleted Property Features (For quick-glance fields) Price: $528,755 Property Type: Multifamily / Duplex (Two units) Unit Layouts: Two units, both 2 BR / 2 BA Total Square Footage: ~2,418 sq. ft. combined Location: Cul-de-sac lot, borders Audubon conservation green space Appliances: Brand-new appliances included in both units Major Upgrades: Full Replumbing (2020 & 2014) New AC Systems (2024 & 2016) New Water Heaters (2020 & 2023)
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.
