SO MANY POSSIBILITIES UNDER ONE ROOF! Private IN-LAW SUITE? Game room with billiards and ping pong? Teen or college hangout retreat? Nanny’s quarters? Home office? This flexible 5-BEDROOM POOL HOME in Sand Pine Estates offers options rarely found in Dr. Phillips — including TWO PRIVATE SUITES overlooking a massive COVERED LANAI and SCREENED, HEATED POOL. Situated on a GENEROUS 0.33-ACRE FENCED LOT, this nearly 3,000 sq. ft. home welcomes you with classic BRICK-FRONT curb appeal and a spacious layout designed for both everyday living and entertaining. VAULTED CEILINGS, SKYLIGHTS, and TRAVERTINE FLOORING create a bright, open feel filled with natural light. Just off the foyer, the FORMAL LIVING ROOM offers exceptional FLEX SPACE — ideal for a home office, library, music room, or additional gathering area. The FORMAL DINING ROOM with classic WAINSCOTING provides an elegant setting for hosting dinners and celebrations. The REMODELED KITCHEN features QUARTZ COUNTERTOPS, SOLID WOOD CABINETRY, and a LARGE BREAKFAST BAR WITH SEATING FOR FOUR OR MORE, plus an inviting EAT-IN BREAKFAST NOOK overlooking the pool area. The kitchen flows seamlessly into the family room highlighted by a dramatic FLOOR-TO-CEILING BRICK FIREPLACE, while expansive glass doors frame views of the lanai and PEBBLE-FINISH HEATED POOL, creating effortless INDOOR-OUTDOOR FLORIDA LIVING. The PRIMARY SUITE offers PRIVATE POOL ACCESS, dual vanities, a GLASS-ENCLOSED SHOWER, and a separate JETTED TUB along with a LARGE WALK-IN CLOSET WITH BUILT-INS. A PRIVATE GUEST / IN-LAW SUITE with its own entrance, FULL BATH, KITCHENETTE, and DIRECT LANAI ACCESS provides exceptional flexibility for MULTIGENERATIONAL LIVING, extended guests, or a private workspace. Step outside to the expansive COVERED LANAI (29'x15') overlooking the SCREENED HEATED POOL with NEW POOL HEATER and a PRIVATE FENCED BACKYARD surrounded by mature landscaping. Major updates provide peace of mind including a NEW ROOF (2024), UPDATED PLUMBING, and NEW POOL HEATER — valuable advantages in today’s insurance environment. With a LOW $200/YEAR HOA and zoning for sought-after DR PHILLIPS HIGH SCHOOL, this home is just minutes from RESTAURANT ROW, UNIVERSAL STUDIOS, world-class dining, shopping, and major highways providing convenient access to downtown Orlando and Orlando International Airport. POOL. SPACE. FLEXIBILITY. LOCATION. A STANDOUT OPPORTUNITY IN DR PHILLIPS.
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.
