Set against the wide-open waters of Tampa Bay, this west-facing second-floor waterfront condo in the Sky Harbour community offers a compelling opportunity for buyers seeking a true renovation canvas in one of St. Petersburg’s most established waterfront settings. With gulf views and a well-proportioned floor plan, this residence is perfectly positioned for a thoughtful redesign that can dramatically enhance both lifestyle and long-term value. The unit is ready for cosmetic updates, allowing a new owner to modernize finishes, reimagine the kitchen and baths, and tailor the space to their personal vision while capitalizing on the unbeatable combination of location, views, and community amenities. Sky Harbour is recognized for its solid cast concrete and steel construction by the U.S. Army Corps of Engineers, providing a strong foundation for investment and peace of mind. Recent and ongoing community improvements include a newer roof, refreshed exterior paint, resurfaced parking areas, upgraded common-area windows, and a new dock and fishing pier underway, ensuring the surrounding infrastructure supports future appreciation. Residents enjoy a full suite of resort-style amenities including a heated waterfront pool with tiki huts and grilling areas, shuffleboard courts, kayak launch and storage, bike storage, a fitness center with water views, hobby workshop, game and billiards rooms, library, and multiple social gathering spaces. Located in the Skyway Marina District, this condo places you minutes from marinas, waterfront parks, Maximo Park boat launch, Gulfport, downtown St. Petersburg, Fort De Soto Park, Tierra Verde, and the Gulf beaches, while offering quick access to I-275 for easy travel throughout Tampa Bay. Monthly HOA fees include building insurance, exterior maintenance, water, sewer, trash, basic cable, high-speed internet, and storage, keeping renovation planning straightforward and predictable. With milestone inspections and reserve studies completed, a two-year ownership requirement prior to leasing, and a no-pet policy, this property represents a rare chance to create a customized waterfront residence or strategic value-add investment in a community where location and views do the heavy lifting.
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.
