Rustic Allure Meets City Convenience! Charming 3/2 Concrete Block & Stucco Custom Home with a 2 Car Garage including sliding screen doors, a 20 x 23 Carport, and an additional 20x 20 Detached Garage on a 1 Acre Lot with ROOM FOR A POOL, You are Neighbors with The Villages, and The Villages Lifestyle, located close to Lake Sumter Landing, Spanish Springs Town Square, an Abundance of Shopping, Restaurants, Oxford Downs, Browns Country Market, Banks, Medical, and More! Currently an Income Producing Property. HVAC 2021! No Carpet! The lovely Enclosed Front Porch greets you before entering into the main home, which offers an Open Concept floor plan, with the Living area featuring Vaulted ceilings, and Glowing Laminate flooring. The Living flows to the Dining area which provides a Stunning Designer Chandelier, and access to the Bonus room featuring Tile flooring, and access to the Lanai, a Fantastic Additional Living Space! The Open Kitchen showcases a Solar Tube, Stainless appliances, Granite Countertops, White Wood Cabinetry, Generous Breakfast Bar, and an Upgraded Light fixture! The Split Floor Plan offers the Utmost Privacy for both the Owners and their Guest, with the Primary suite commanding one side of the home while the guest bedrooms and guest bathroom are located on the opposite side of the home! The Primary Suite boasts Private Access to the Lanai, a Walk in Closet, and an En Suite bathroom providing a 2 sink vanity, and a Walk in Shower. The two additional bedrooms feature nice size built in closets, offer your guests Convenience, and Plenty of Space! Enjoy Outdoor Florida Living on the Large 23 x 12 Screened Lanai, Great for Outdoor Dining or Relaxing in your Own Private Paradise filled with Tropical Breezes, Beautiful Sunsets, and Peaceful Living! Spend Evenings around the Campfire gazing at the Unencumbered View of the beautiful Starry Nights! Well Replaced 2025, Septic Pumped 2024, Detached Garage 2023, Screened Lanai 2023, Roof 2016, Carport 2014, Water Heater 2015. A True Country Setting with All The Convenience of The Villages Lifestyle! Call Me Today For A Private 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.
