One or more photo(s) has been virtually staged. Spacious and beautifully designed 4-bedroom, 2.5-bath single-family residence offering generous living spaces and exceptional indoor–outdoor living. The first floor features an open living and dining room combination ideal for gatherings and entertaining. The enormous kitchen is a standout, boasting brand-new state-of-the-art stainless steel appliances, granite countertops, real wood cabinetry, and a convenient breakfast bar. The kitchen flows seamlessly into the family room, creating a welcoming open-concept layout. The family room provides direct access to the large screened-in lanai overlooking the recently installed in-ground pool and spa. The backyard is designed for entertaining, featuring new brick pavers that create abundant resort-style relaxation spaces, while the vinyl privacy fence surrounds the yard to provide a peaceful and private retreat. The expansive primary suite is conveniently located on the first floor and includes a giant walk-in closet. The primary bathroom offers dual separate sinks, a garden tub, an oversized separate shower, and a private water closet. Additional first-floor features include a guest half bath, laundry area, and a true two-car garage. Upstairs, you’ll find a spacious second living area with views of Cherry Lake, along with three generously sized bedrooms and a full bathroom. New plank wood flooring has been installed upstairs and in the primary bedroom, adding a fresh and modern touch. Major system updates provide additional peace of mind, including roof replacement in 2023, a new hot water heater, and a brand-new HVAC system equipped with a UV filter and moisture control for enhanced indoor air quality. This home offers an ideal layout with multiple living areas, thoughtful upgrades, and inviting outdoor spaces perfect for everyday living and entertaining. Please read REALTORS®? only remarks regarding FHA Assumable Mortgage and Solar Panels.
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.
