Welcome to your slice of peaceful Florida living in the highly desirable, non-flood zone community of unincorporated Garden City in West Lealman, St. Petersburg! This charming 3 bedroom, 1 bathroom concrete block home offers the perfect blend of comfort, updates, and location. Step inside and immediately appreciate the natural flow of the split bedroom floorplan, providing added privacy for the spacious primary bedroom. The home has been thoughtfully updated with a newer roof and windows installed in 2017, giving you peace of mind and energy efficiency for years to come. An added bonus is the UVC germicidal red light system integrated into the HVAC, helping to enhance indoor air quality for a cleaner, healthier living environment. The interior also features the convenience of an indoor washer and dryer, making everyday living that much easier. Out back, you’ll find a generously sized, fully fenced yard—perfect for pets, entertaining, or simply enjoying your own private outdoor retreat. The freshly painted rear patio creates an inviting space to unwind, sip your morning coffee, or relax in the evening while watching the playful squirrels and enjoying the quiet surroundings. Located in a peaceful neighborhood known for its quiet neighbors and laid-back atmosphere, this home still keeps you close to everything you need. You’re just minutes from great shopping, fabulous restaurants, and of course, Florida’s world famous white sandy beaches. This is the kind of home that checks all the boxes—solid construction, key updates, a great location, and a welcoming neighborhood. Don’t miss your opportunity to make it yours—schedule your private showing today!
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.
