**COMING SOON. Ready for Showings on Jul 16. OPEN HOUSE July 17, 18, & 19 from 11am to 1pm. ASSUMABLE VA Loan** Set on 1.43 acres with no HOA, this home's tucked away on a quiet street away from through traffic. The street dead-ends at Blackwater Bay, giving the setting a peaceful, tucked-away feel. Pull up on the long, wide driveway and you’ll find plenty of room for guest parking, larger vehicles, and everyday parking before you even reach the oversized 3-car garage. Out back, you’ll find a private pond stocked with largemouth bass and blue crabs. There’s also a 22,000-gallon in-ground pool for cooling off on those warm Florida days. The quaint semi-wraparound porch is the perfect place to sit a spell with your morning coffee or wind down once the day’s done. Inside, tile flooring runs throughout for a clean, cohesive look that’s easy to maintain. The kitchen features semi-custom cabinetry and stone countertops. The primary suite includes a tiled shower, separate jetted tub, and dual vanity with a quartz countertop. The second bathroom carries the same upgraded feel with a stone countertop and matching sink. You may also notice soft overhead night lighting in select areas of the home, which comes in handy for those late-night trips when you don’t want to disturb everyone else. The 3-car garage is a standout with three full front-entry bays, a workbench, storage racks powered workspace, and a stage-2 electric vehicle charger. Below the living area, you’ll find approximately 576 square feet of enclosed unfinished storage with power for tools, hobbies, seasonal items, or anything else you’d rather keep tucked away. With an effective year built of 2002, the home also benefits from a roof and water heater installed in 2021, a pool pump replaced in 2023, and a new condenser and air handler in 2024. Between the acreage, pool, garage space, useful storage, and peaceful setting, this one has the kind of warm, easygoing feel that makes you want to stay awhile.
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.
