PRICE REDUCED. MOTIVATED SELLER. ADU was a STR up until recently making $1,500+/month. Step into a rare blend of timeless character and modern luxury in the heart of Sanford’s Historic District. This stunning 1920s residence has been thoughtfully reimagined, preserving its original charm while delivering the upgrades today’s buyers expect. From the moment you arrive, the inviting front porch sets the tone for what’s inside. A vintage wood entry door with antique hardware welcomes you into a space filled with warmth, where original hardwood floors and curated designer lighting create an atmosphere that feels both elevated and effortless. At the center of the home, the kitchen is a true showpiece. Designed for both everyday living and entertaining, it features solid wood cabinetry with soft-close details, exotic granite countertops, and a 36-inch six-burner Thermador gas range that will impress even the most serious home chef. The floor plan offers flexibility and space, with five bedrooms, four bathrooms, and multiple living areas including a loft or office. Whether you are hosting guests, working from home, or creating a multi-generational setup, this home adapts to your lifestyle. Step outside and you will find a private backyard retreat designed for entertaining. The pool has been resurfaced and retiled, creating a fresh and inviting space to gather. Just beyond, the detached pool house adds even more versatility with its own kitchen, full bath, French doors, and exposed brick accents. Perfect for guests, a studio, or income potential. Behind the scenes, the major systems have already been taken care of with a new roof, updated plumbing and electrical, three new AC units, and irrigation, giving you peace of mind for years to come. The location brings it all together. Situated in Sanford’s Cultural Corridor, you are just moments from the RiverWalk, Fort Mellon Park, and the vibrant downtown scene filled with local dining, shops, and entertainment. With residential and restricted commercial zoning, the possibilities here are just as exciting as the home itself. This is more than a home. It is a lifestyle, an investment, and a rare opportunity to own a piece of Sanford’s history with all the modern upgrades already in place.
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.
