Perfectly positioned along 65 feet of direct Intracoastal Waterway frontage within the highly sought-after, guard-gated community of Edgewater Landing, this extraordinary 3BR/2BA/1-car garage residence redefines what manufactured home living can be. Known as the “condo alternative,” Edgewater Landing is an award-winning active 55+ community in Edgewater, Florida—voted one of the 50 Best Communities to Retire to—with a nearly $5M recreation center (currently under construction) recognized as #1 in America by the National Home Builders Association. This one-of-a-kind home has been completely transformed inside and out with elevated finishes rarely found at this price point, beginning with its striking board-and-batten Hardie-board exterior and fresh paint. Set along the riverfront walking path, the charming front garden and seating area invite friendly conversations with neighbors strolling by, while a screened lanai breezeway connects the garage, storage room, and main entry. Step inside and sweeping river views immediately command attention, showcased from nearly every room. The open living room features a fireplace and flows into a dining room with transom windows and beamed ceiling, leading to a showstopping chef’s kitchen with solid wood cabinetry, granite counters, full-height backsplash, stainless refrigerator and dishwasher, and an impressive $8,000 six-burner Italian gas range with custom hood that complements the cabinetry. A massive island with sink and abundant storage anchors the space, while two wide openings lead to an expansive, nearly 40-foot air-conditioned Florida room complete with wet bar, wood cabinets, granite counters, and wine cooler—perfect for entertaining as yachts glide past. Down the hall are two guest bedrooms, a well-appointed hall bath, and a spacious indoor laundry room with exterior access, while the gracious primary suite offers double closets and distinctive barn doors—collected from world travels—opening to a spa-like bath with clawfoot tub, separate shower, enclosed water closet, and dual vanities. Throughout the home, intricate tile flooring, designer lighting, and abundant natural light elevate the ambiance. Beyond the home, residents enjoy 24-hour security, clubhouse, heated pool, fitness center, dance floor, catering kitchen, outdoor BBQ and picnic areas, bocce ball, shuffleboard, tennis and pickleball courts, miles of scenic walking trails, two fishing docks, private boat ramp, canoe and kayak racks, plus RV and boat storage—an unparalleled waterfront lifestyle that truly embodies the Florida dream. ALL INFORMATION IS ASSUMED ACCURATE BUT NOT GUARANTEED. ALL MEASUREMENTS ARE APPROXIMATE. BUYERS AND THEIR AGENTS SHALL VERIFY ANY INFORMATION DEEMED IMPORTANT TO THEM.
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.
