Rare opportunity to assume a VA loan at an incredibly low 3.25% interest rate!! Welcome to this beautifully maintained 2 bedroom 2 bath, 1,471 sqft home in the heart of Port Richey! Located in a quiet and established neighborhood with no HOA or CDD fees, this property is perfect for those seeking comfort and convenience. Amazing sense of ownership throughout the entire property! The primary suite features vinyl plank flooring and an upgraded en-suite bathroom. The spacious primary bedroom stands out with a bold modern design, offering a stylish space that makes a statement. While the second bedroom and bathroom are perfect for guests or a home office. The living areas are designed for easy living and entertaining, with ample natural light and an inviting layout. Enjoy the benefits of this prime location, just minutes away from shopping centers, dining options, and pristine Gulf beaches. Whether you love a relaxing beach day or exploring local parks, this home has you covered. Things to Do Nearby • Werner-Boyce Salt Springs State Park: Explore scenic hiking trails, kayak through salt marshes, or spot wildlife. • SunCruz Port Richey Casino: Enjoy an evening of entertainment and dining aboard a floating casino. • Gill Dawg Tiki Bar & Grill: Relax by the water with live music, great food, and local vibes. • Historic Tarpon Springs Sponge Docks: Just a short drive away, experience unique shopping, dining, and Greek culture. This area offers the perfect balance of peaceful living and convenient access to Florida Beaches. Don’t miss this opportunity to own a move-in-ready home in a location you’ll love. Schedule your private showing today!
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.
