Wake up to Southwest Florida Gulf breezes and a water view of nature and sunsets on the canal from your private pool in Englewood Florida—just minutes to Manasota Key and Stump Pass beaches, and not far from Venice and Sarasota, Siesta Key or Nokomis beaches. Need a GARAGE? SAVE $45,000+ and enjoy one of the best views available in the area with a pool! We priced this home at $375k so you have the cash to add a garage or simply convert a room back to a garage for INSTANT EQUITY; you can also use the option to add square feet in the process. We already talked to contractors and the county. There’s a simple fix with the conversion to have the best view on the street and still pay far less than the $420k+ properties and $530k neighbors that sold! Your new home blends coastal charm with modern comfort: renovated kitchen and baths, luxury plank flooring, NEW hot water heater, NEW pool pump, and a NEWER roof and HVAC for peace of mind. The open layout flows from the breakfast bar and dining area to a natural sun-filled living space with peaceful nature and water views. Step outside to your backyard with resurfaced pool framed by a shell border and grill some tasty food with neighbors and friends under the shade of your tree—or just enjoy the incredible sunsets every evening. Available furnishings and complete household setup finished, let you move in effortlessly. Nearby, enjoy championship golf, tennis courts, yoga, scenic trails, marinas with wonderful experiences for boating, jetskis, or paddle boarding, and waterfront dining. When you’re away, your No-HOA, No-CDD elevated home (has not flooded in recent major storms and does not currently require flood insurance) can generate $3,000/month on average and up to $5,000 in peak season as a vacation home rental property, with dozens of requests (examples can be provided once under contract). A rare bonus: assumable mortgage with rate around 4 and ask how to purchase your new investment property or vacation rental using creative financing options with limited documentation, while benefiting from both income and tax advantages. Schedule a tour today and close on your new home before summer begins!
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.
