Beautiful POOL HOME with a tranquil backyard. Step into this Cardel Homes Harrier floor plan and notice the bamboo floors that grace the main living areas and kitchen. Look up at the high vaulted ceilings in every room as well as the lovely architectural details. The kitchen and both baths have been completely remodeled with quartz counters, new cabinets and hardware. The kitchen has new stainless steel appliances, and a classy glass backsplash, as well as beadboard under the counter overhang. You will also find a reverse Osmosis drinking water system with faucet at the kitchen sink. The primary bath was updated to include a stand alone tub, glass enclosed shower, and LVP flooring that looks like tile. The second bath also has a glass enclosed shower, black fixtures and a black and white tile floor. This well-maintained one owner home had its ROOF and HVAC replaced in 2019. The breakfast nook is large enough that the current owners use the formal dining room as their office/den. The spacious primary bedroom has large windows to the backyard and a walk-in closet. One of the two secondary bedrooms has a walk-in closet as well. Ceiling fans throughout to help on that electric bill. The water heater, dryer and range are gas. Last but not least, step out by the pool where you can enjoy the calm as you sip your morning coffee or that glass of wine at the end of a long day. Cool off in the screen caged sparkling pool that you can take advantage of more than half the year in sunny Florida! Ideal location between US 41 and I-75 where exit 246 has been completely redone. The community amenities were all recently redone to include a new lap pool in addition to 2 other pools, a splash pad, expanded fitness center with new equipment, new playground, and updated community room that can be reserved for parties. Doby Elementary is inside the Covington Community, with Eisenhower Middle and East Bay High right across Big Bend Road from the entrance. There are also many Magnet Schools in the area.
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.
