WELCOME TO 7649 NOTTINGHILL SKY DR…You are not going to find another FULLY REMODELED POOL HOME with vaulted ceilings and a PEACEFUL WOODED BACKYARD RETREAT at this price in the highly desirable Covington community. This well-maintained ONE-OWNER Cardel Home Harrier floor plan offers an open feel with bamboo flooring throughout the main living areas and kitchen. The KITCHEN and BOTH BATHROOMS have been COMPLETELY REMODELED, featuring quartz countertops, new cabinetry with crown molding, updated hardware, and modern finishes. The kitchen includes stainless steel appliances, a gas range, French door refrigerator, a built-in pantry plus a closet pantry, a glass backsplash, and wainscoting on the back of the breakfast bar. A reverse osmosis drinking water system is also installed at the sink. The spacious primary suite overlooks the backyard and includes a walk-in closet. The primary bathroom features a freestanding soaking tub, glass-enclosed shower, and LVP flooring, while the second bath offers a glass shower enclosure, black fixtures, and black-and-white tile flooring. One secondary bedroom also includes a walk-in closet. Major updates include ROOF ’19, HVAC replaced in ’20, NEW POOL PUMP. The water heater, dryer, and range are gas, and ceiling fans are installed throughout for comfort and efficiency. Step outside to enjoy the screen-enclosed sparkling pool and covered lanai with slate tile flooring, creating the perfect space for morning coffee, relaxing afternoons, or entertaining guests. Located between US-41 and I-75 near the newly redesigned Exit 246, Covington offers excellent community amenities including a lap pool, two additional pools, splash pad, expanded fitness center, playground, and updated community room. Doby Elementary is located inside the community, with Eisenhower Middle and East Bay High just across Big Bend Road, along with several nearby magnet school options.
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.
