Exceptional Investment Opportunity in Lantana! Located on a quiet, low-traffic street just blocks from the Intracoastal, this updated property offers outstanding value for investors, developers, seasonal residents, or future homeowners. Features TWO primary suites with private en-suite baths, one already plumbed for a future kitchenette—ideal for multigenerational living or rental potential. Recent improvements include a 2025 roof, 2026 A/C & gutters, 2024 water heater, 2023 washer & dryer, Tesla charger, security cameras, and an electric-ready storage shed. No HOA with double rear gates for easy boat or RV acc **Supplemental Remark:** 721 E Coast Avenue is loaded with upside for investors, developers, and homeowners alike. Two full primary suites, each with its own private bathroom. That layout alone is hard to find. The guest bedroom already has a water hookup in place for a kitchenette, so converting it into a self-contained efficiency and renting it out is a real option, subject to permitting and buyer's due diligence. The big-ticket items are already handled. New roof in 2025. New A/C in 2026. New gutters in 2026. Washer and dryer replaced in 2023. Security cameras are installed. And electric for car charger is ready to go. The storage shed already has power run to it. The backyard is fully fenced with a patio seating area and the shed for extra storage. A double gate at the back of the yard opens straight to the road behind the property, so hauling in a boat or trailer is easy. That kind of access is hard to come by in this neighborhood. The kitchen needs work. That's the one project left, and it's priced to reflect it. Everything else has been taken care of, so you can put your money and your style into the kitchen and build equity fast. If you're chasing cash flow, eyeing a project with built-in upside, or just want a home with major systems already replaced and room to make it your own, this one delivers. Schedule your showing.
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.
