4.49% Assumable VA Rate with Roam! OPEN LAYOUT!!! Welcome home to this charming property in a quiet Wildwood neighborhood, perfect for family living. This spacious home features LAMINATE AND TILE FLOORING, a NEW BACKSPLASH in the KITCHEN, and NEW CEILING FANS and BLINDS throughout. Enjoy peace of mind with a 2021 ROOF and 2021 HVAC. The home offers a functional layout with generous living areas and a large yard ideal for OUTDOOR fun, pets, or gardening. Conveniently located near schools, shopping, dining, and The Villages, with easy access to I-75 and the Turnpike. BUYER WILL HAVE A 1-YEAR HOME WARRANTY PROVIDED AFTER CLOSING. A wonderful place to call home! Step outside to a large backyard that’s perfect for weekend barbecues, gardening, or simply relaxing in the Florida sunshine. The property’s location offers the best of both worlds, quiet country surroundings while still being just minutes from local schools, shopping, dining, and The Villages. With quick access to I-75 and the Florida Turnpike, commuting to nearby cities is a breeze. Whether you’re a first-time buyer or looking for your next family home, this property offers great potential and a wonderful place to call home. Welcome to your new home in Wildwood! FURNITURE IS NEGOTIABLE FOR A COMPLETELY MOVE-IN READY HOME. The home is a SAFE HAVEN SMART HOME, with upgraded DEAKO SMART SWITCHES, which allow you to control various things through you Smart Phone, such as, unlocking the front door, the garage door, and various lights, plus put the lights on a timed schedule The seller is also leaving EUFY SECURITY CAMERAS and a HOMEBASE.
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.
