Short Sale. SHORT SALE : Country charm meets modern comfort in this beautiful block construction 3-bedroom, 1.5-bath home with no HOA! From the metal roof to the wood accent siding and shutters, this property welcomes you with warmth and character from the moment you arrive. Enjoy your morning coffee on the screened front patio overlooking the low-maintenance front yard, while the gated and fenced driveway with 1-car carport provides off-street parking for multiple vehicles. Step into the spacious rear screened patio complete with insulated ceiling panels, ceiling fan, power access, and plenty of room for outdoor entertaining rain or shine. The backyard offers a grassy play area along with multiple storage structures and workshop spaces, creating endless possibilities for hobbies, storage, or flex use. Inside, you’ll find vinyl and vinyl plank flooring, updated windows and doors, modern plumbing and lighting fixtures, updated electrical, and a custom barn door separating the bedroom wing for added privacy. The oversized kitchen offers room for a dining table and center island, with electric service already in place for a future island setup. Just off the kitchen is a convenient indoor laundry room with direct access to the carport area. Major updates and improvements were completed approximately 5–6 years ago, including the metal roof, A/C system, appliances, screened patios, windows and doors, walk-in shower, fencing, and various interior upgrades. The property also features a wireless whole-house alarm system, ceiling fans throughout, privacy fencing with security lighting, and several powered storage/workshop buildings. Additional outdoor features include a 10x20 workshop shed with roll-up door and 110v/230v power service, a finished insulated shed with A/C and electricity, plus an additional 10x10 shed with attached covered lean-to area and concrete patio space between structures for added functionality. Located toward the back of the neighborhood in Polk City for reduced drive-by traffic, this property offers convenient access to the Van Fleet Nature Trail, Lake Agnes fishing pier, and quick access to I-4 for an easy commute to Lakeland, Davenport, Clermont, Orlando, and Tampa. Property offered As-Is.
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.
