If you’ve been dreaming of true waterfront living with direct Gulf access, this exceptional two-story home, built in 2003, offers the perfect blend of comfort, privacy, and coastal lifestyle. Tucked away in a desirable Port Richey location, this property delivers a rare opportunity to enjoy boating, fishing, and sunset cruising right from your backyard. Positioned on the water with direct access to the Gulf of America and no fixed bridges, this home is a boater’s paradise, featuring a stationary dock with water and electric, a floating dock, and a 10,000 lb boat lift, allowing for quick and effortless access to open water—whether you're heading offshore, exploring nearby islands, or docking at waterfront restaurants just minutes away. Inside, the home offers a spacious two-story layout filled with natural light, designed to maximize both comfort and functionality. The open-concept kitchen with granite countertops flows seamlessly into the main living areas, creating the perfect space for entertaining, complemented by updated bamboo flooring that adds warmth and a modern touch throughout. Water views from multiple areas of the home bring the outdoors in and create a relaxing coastal atmosphere. The primary suite features a private lanai overlooking the backyard and water, along with two closets, including a large walk-in closet, offering a peaceful retreat to unwind. Major updates include a new roof (2024) and HVAC system (2025), providing peace of mind and long-term value. Step outside to your private oversized waterfront deck with a tiki bar featuring electric and running water. The huge deck was recently redone with a premium composite deck system, creating the perfect low-maintenance space to relax, entertain, or take in stunning sunset views. The fenced-in backyard adds both privacy and functionality—ideal for pets, gatherings, or simply enjoying your own outdoor space with beautiful west-facing sunsets. In addition to the waterfront features, the property includes a huge 21 x 30 garage, along with a separate storage garage, providing excellent space for equipment, storage, or household items. Conveniently located just minutes from US-19, shopping, dining, marinas, and local hotspots, this home offers both privacy and accessibility. This home features an assumable VA mortgage (subject to lender approval), presenting a potential opportunity for qualified buyers to secure favorable financing. From early morning boat rides to peaceful evenings by the water, this property delivers a lifestyle centered around relaxation, adventure, and unforgettable views. Schedule your private showing today and experience waterfront living at its finest.
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.
