Charming, Updated & Move-In Ready! This beautifully refreshed 2 bedroom, 2 bathroom Port Richey home offers 1,201 sq ft of comfortable living space on an oversized 0.27-acre lot with NO flood insurance required. Located in Flood Zone X and equipped with hurricane impact windows, doors, and garage door, this home delivers peace of mind and potential insurance savings. Step inside to find brand-new Luxury Vinyl Plank flooring, fresh interior and exterior paint, and a welcoming layout that includes both a spacious living room and a large separate family room—perfect for entertaining or relaxing. The updated main bathroom features a modern walk-in shower, and a newly added second full bathroom includes a tub/shower combo, ideal for guests or a growing household. All toilets and faucets were replaced in 2025 for additional comfort and efficiency. The home sits on a fully fenced lot with mature oak trees, plumeria in the front yard, and a lime tree in the back. A large covered and screened patio overlooks the backyard—an ideal space for outdoor dining, pets, gardening, or even adding a pool. A private well is available for irrigation, helping keep lawn maintenance costs low. Additional features include an inside laundry room, oversized driveway, and a 1-car garage with opener. Located just minutes from Downtown New Port Richey, Sims Park, shopping, and dining, this home offers the perfect blend of convenience and comfort. Whether you’re a first-time homebuyer, downsizer, snowbird, or investor, this move-in ready property is an excellent opportunity in a desirable, no-HOA neighborhood. Welcome home to 7730 Chapel Ave—where updates, value, and Florida lifestyle come together!
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.
