Beautiful, meticulous and UPDATED 2-bedroom with an additional room for an office or bonus room, 1-bathroom home with tropical landscaping in the NON-FLOOD ZONE area of Jungle Terrace just down the street from Walter Fuller Park, not far from the beaches on the Gulf of Mexico and close to Boca Ciega Bay. Step into your own private oasis—this vibrant coastal retreat is a rare gem! Imagine sipping cocktails at your personal tiki bar, and unwinding to the gentle glow of festive, colorful lights that transform the back patio into a paradise after sunset. The lush, mature landscaping creates a secluded haven, perfect for lively gatherings or tranquil evenings. This well-maintained property includes a WHOLE HOUSE WATER FILTRATION SYSTEM and a REVERSE OSMOSIS SYSTEM in the kitchen, DOUBLE PANE WINDOWS WITH HURRICANE PANELS, OPEN FLOOR PLAN and a CIRCULAR DRIVEWAY that can accommodate 3-4 cars plus the CARPORT. You’ll love entertaining on the back patio deck that’s surrounded by lush tropical plants, a tiki bar and an array of colorful lights for nighttime enjoyment. There’s also a private outdoor shower on the side of the house and a large shed. The inside is spectacular! Updated open kitchen with a breakfast bar, island with pull out shelves, Stainless Steel appliances, granite counters, pantry, GFCI outlets, an extra water purification system (reverse osmosis) and the dining area overlooks the lovely backyard. The cozy office/bonus room provides a built-in bar with a wine refrigerator, desk, queen sleeper sofa, a barn door for privacy while being used for an additional sleeping area and a view of the backyard. An updated bathroom with a dual flush toilet, granite counter, exhaust vent & GFCI outlet compliments the home. The comfortable living room is a corner room as well as both bedrooms. There's tile flooring in the main living areas. Flood insurance is not required. This wonderful property is only a 9-minute drive to the beach on the Gulf of Mexico for fun and sun, a couple of minutes to Tyrone Mall for exceptional shopping & dining (including Home Depot & Best Buy), 2 minutes to the boat ramp down the street and 17 minutes to downtown St Petersburg with its unique restaurants, world-class museums and the exciting pier on Tampa Bay. Let’s also mention again that this home is just down the street from Walter Fuller Park that has walking trails with bridges, a lake, baseball & soccer fields, pickleball and a community center and pool. This is your place in paradise!
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.
