Gulf Coast Pool Home Opportunity – Close to Beaches & Ready for Your Vision! Located just minutes from the pristine shores of Englewood Beach and the Boca Grande Causeway, this 2-bedroom + bonus room, 2-bath home presents an exceptional opportunity to create your ideal Florida retreat. With a new roof installed in 2022, a heated pool added in 2023, and a flexible layout, this property is filled with potential in a highly sought-after coastal location. The home has already undergone remediation following past storm damage. A welcoming front porch with a handicap-accessible ramp adds both charm and convenience. Bright and welcoming, the open-concept design seamlessly connects the kitchen, living, and dining areas—perfect for both everyday living and entertaining. The kitchen features crisp white cabinetry, warm butcher block countertops, and a spacious center island with seating, blending style and functionality. Recessed lighting, a modern faucet, and an efficient layout enhance the space, while the open flow keeps the home light-filled and inviting. Updated flat ceilings throughout add a fresh, contemporary touch. The home features two bedrooms, including one with a walk-in closet and an attached bathroom that has been tastefully updated with a walk-in shower and a new freestanding granite-top vanity. A standout feature is the private door providing direct access to the Florida room, creating a convenient indoor-outdoor connection and easy access to the pool area. The guest bedroom, located on the opposite side of the home for added privacy, offers its own attached bath, complete with a convenient laundry area—ideal for ease of everyday living. The spacious 17x16 bonus room provides an exciting opportunity to expand your living space, with the sellers currently in the process of completing the finishing touches. Filled with natural light from multiple windows and positioned to connect with the outdoor living areas, this space is ideal for a future family room, game room, home office, or guest retreat. Once completed, it will serve as a seamless extension of the home—adding both functionality and value while giving buyers the benefit of an almost-finished upgrade. A separate 12x11 room off the patio offers even more versatility, perfect for guests, a home office, or a private fitness space. Step outside to enjoy the fenced backyard, paver patio, and heated pool, designed for year-round outdoor living and relaxation. Conveniently located less than 15 minutes from beaches, dining, shopping, and golf, this property also offers added freedom with no HOA or deed restrictions—making it an excellent option for investors, seasonal residents, or full-time living. **PLEASE ENJOY THE 3D INTERACTIVE VIRTUAL TOUR ASSOCIATED WITH THIS LISTING**
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.
