Don't miss out on this beautiful Apollo Beach SHOWCASE home with the ultimate coastal living experience. As you enter the Covington Park neighborhood and pass the landmark "clocktower" you will be amazed at the beauty of the well-developed trees and landscape surrounding this area. The front door of this home leads the way to a wide-open floor plan and you are immediately drawn to the elegant looking porcelain tile floors that extend throughout the entire open rooms and bathrooms. All 4 bedrooms floors are covered with luxury vinyl planks for easy maintenance. With more free time, you are drawn to the captivating outdoor pool paradise oasis, which includes a 13 X 30 saltwater inground pool, pool heater rated for 25K gallon pool and travertine patio floor that extends into the screened in lanai. This backyard displays an island retreat feel with palm trees and tropical landscaping, cantilevered pool umbrellas and chaise lounges. The home has Kevlar hurricane rated roll up remote screen for the lanai and Storm Smart shutters for all the windows. New roof 2020,New HVAC 2024, New gas heater 2025, exterior house painted less than 5 yrs. Enjoy natural gas for all your needs. Equipped with a BRUNO (German engineered) stair chair lift for access to the 2nd floor suite & half bathroom. This home could be considered a generational property. All bathrooms have been beautifully updated for enjoyment of the new homeowners. There is a list of pool equipment and furniture included in the sale of this property like a whole house 10K generator & large propane tank, to name a few to make this an easy move. Come and enjoy everything this Florida coastal home has to offer you.
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.
