This one won’t last!! Lowest-priced listing in San Carlos Park. This is a handyman or investor-friendly opportunity, offering solid potential in a community with strong long-term value. No HOA means freedom from fees and restrictions. The updated main living area feels open and full of natural light. The home currently offers 2 bedrooms and 1 bathroom, but can easily be converted back to a 3-bedroom layout as it was originally. (It is listed as a 3-Bedroom on the property appraiser's site). See floorplan– currently the primary bedroom is a massive 25’3 x 10’ space. In addition, the enclosed bonus living space/ storage rooms on the lower level adds valuable square footage—ideal for a family room, home office, guest space, or creative studio. Please note: Property needs TLC!! Has central air but HVAC not fully functional at the moment (window units have kept the interior temperature below 78 degrees at all times). Oversized lot with a large backyard, covered parking with the spacious carport, and extra storage. Proximity to Florida Gulf Coast University provides the opportunity to rent to students. Easy access to Gulf Coast Town Center, I-75, RSW Airport, shopping, dining, and beaches, the location continues to be one of the area’s biggest draws. This incredible INVESTMENT OPPORTUNITY won’t be available for very long… don’t miss your chance to secure the best deal of 2026!
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.
