OPPORTUNITY KNOCKS! Unleash your vision in this highly desirable Copper Ridge neighborhood. this spacious, open floorplan, 3 bedroom, 2 bath, 2 car garage home offers the perfect canvas for your design aspirations. This home boasts generous square footage with plenty of natural light. This is the perfect opportunity for someone looking to build instant equity. Minor cosmetic updates could transform this well-loved home into the home of your dreams…Just imagine all the possibilities! New roof (2021), gas hot water heater (2024) and AC (2019) - all of the big-ticket items have already been taken care of! The kitchen has plenty of cabinet space for optimal storage and functionality, newer refrigerator and dishwasher, and French doors that lead out to the backyard for easy entertaining. Master bedroom offers and en-suite bathroom with a walk-in closet. There is no carpet in this home. The ceramic tile/laminate/wood flooring makes it so easy to maintain. The location is prime - Copper Ridge is a popular community near top-rated schools. Close to shopping, dining and very convenient to I4 and I75. Easy access to Brandon Towne Center, BayCare Hospital and Urgent Care, Brandon Regional Hospital. It's a short drive to downtown Tampa and Tampa International Airport making it convenient for work and/or play (Walt Disney World is only an hour away!). There are plenty of parks nearby as well - Bloomingdale East Park and Valrico Park for playgrounds/trails, plus larger county parks such as Stearns Road Park, Buckhorn Park, Edward Medard Conservation Park, and Alderman's Ford Park, offering diverse options from sports fields to nature trails and boardwalks, all within a short drive. Walt Disney World is only an hour away! Schedule your 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.
