DAVID WEEKLEY MODEL HOME ON OVERSIZED CORNER HOMESITE! Parade of Homes award winner with 2.75% VA ASSUMABLE RATE MORTGAGE! Situated on a beautiful corner lot with lush landscaping, this home offers amazing outdoor entertaining spaces and a wide open floor plan! Cooler nights will soon be here for enjoying the outdoor fireplace that welcomes you into this home built with gatherings and evening soiree's in mind. Upon entering you will love the light and bright atmosphere with a LARGE CENTER ISLAND that opens onto the living area - just perfect for a lazy Saturday morning making pancakes or a late homework night with the kiddos. Culinary magic will come to life in this kitchen featuring a stainless hood with GAS COOKTOP, a built-in wall oven, GRANITE COUNTERTOPS, 42’ Cabinets with DOUBLE CROWN MOLDING, a GLASS BACKSPLASH and PENDANT LIGHTING over the island. A spacious walk-in pantry plus a secluded nook with drop station make this home functional for the busy family. Alfresco dining will be at its finest as you step through the sliding glass doors onto the covered patio with brick pavers. Fall in love with the OUTDOOR KITCHEN designed with stainless drawers for grilling utensils, a convenient mini-fridge, and is built under a pergola with a lush view of your backyard oasis. Venturing upstairs, you’ll find a spacious LOFT for extra living space, playroom, gym equipment, home office etc. The owners suite is beautifully designed with a wood-look shiplap accent wall and TRAY CEILINGS. The en-suite bathroom features dual sinks, a garden tub and separate shower, plus a magnificent walk-in closet! UNEXPECTED EXTRAS INCLUDE: SOLAR PANELS and RADIANT BARRIER INSULATION for added efficiency, TANKLESS SOLAR HOT WATER HEATER, NEW DUCTWORK, DUAL CAR GARAGE with windows for added light and plenty of room for storage, downstairs half bath, HURRICANE SHUTTERS, NO FLOOD INSURANCE Required. WATERSET COMMUNITY FEATURES INCLUDE: a community pool, fitness center, a playground and a park. ZONED FOR SCHOOLS: Doby Elementary, Eisenhower Middle and East Bay High. This home is ready for you to come and relax on your front lanai while sipping morning coffee or evening cocktails and is the one you will call “home”. Schedule your private 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.
