One or more photo(s) has been virtually staged. Motivated Sellers! Move-In Ready in Sheffield Glenn! Welcome home to this beautiful 4-bedroom, 2.5-bath pool home with a 3-car garage, perfectly situated on a quiet half cul-de-sac lot. Step inside to fresh interior and exterior paint, brand new vinyl flooring, and a bright open floor plan designed for entertaining. The kitchen island flows into the breakfast nook and great room, overlooking the screened lanai and sparkling saltwater pool (built 2019). The fenced backyard offers privacy and plenty of space for outdoor living and BBQs. Enjoy a flexible front room that can serve as a formal dining area, home office, or playroom. The owner’s suite features generous space, dual sinks, and a walk-in closet. Sheffield Glenn is a community offering a peaceful and serene setting for residents to call home. Offering features scenic ponds and walking trails, perfect for morning strolls or evening relaxation. The neighborhood offers a variety of home styles and a welcoming atmosphere. Low HOA / No CDD! Residents enjoy easy access to Creekside Commons Plaza, shopping, dining, parks, and recreational amenities. Nature lovers will appreciate being close to Buffalo Creek Park, golf courses, nature preserves, and the beautiful beaches of the Gulf Coast. With its ideal location in Palmetto, Sheffield Glenn provides a tranquil retreat with the convenience of nearby major roadways, offering quick commutes to Bradenton, St. Pete, Tampa, and Sarasota. Come and discover the beauty and charm of Sheffield Glenn, where community, convenience, and comfort come together to create the perfect place to call home!
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.
