Investor Special – Diamond in the Rough on the Weeki Wachee River! So much potential in this elevated 2 bedroom, 2 bathroom home tucked away on a quiet cul-de-sac with quick access to the main Weeki Wachee River. Just a short paddle brings you to the main river where you can enjoy crystal-clear, spring-fed waters perfect for kayaking, paddleboarding, fishing, and observing local wildlife right from your backyard. This home offers a spacious great room floor plan with vaulted ceilings and an gas fireplace, creating an open and airy feel. Two sets of sliding glass doors lead into the Florida Room with vinyl windows, bringing in abundant natural light and additional living space to enjoy the outdoors year-round. The kitchen has a gas stove and eat in bar area and is open to the dining area and family room, ideal for entertaining. The master suite features private sliders to the Florida Room. New carpeting in the bedrooms, vinyl flooring in the main living areas, and tile in the kitchen and baths provide a solid foundation for updates and personal touches. An inside upper-level laundry closet adds convenience. Additional features include an oversized 2-car garage, long driveway with plenty of parking, covered back patio, and a screened back porch/Florida Room for relaxing after a day on the water. Home has TRANSFERABLE FLOOD INSURANCE of 1788 dollars annually. Perfect for a primary residence, investment property, or vacation home. Located near Weeki Wachee Springs State Park, famous for its live mermaid shows and underwater observatory, while still close to everyday amenities. Bring your vision and make this riverfront gem beautiful again. Don’t miss this opportunity to own a piece of waterfront paradise—schedule your showing today!
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.
