This Spanish and Italian inspired grand courtyard villa offers a blend of classic architecture, magnificent indoor and outdoor living space, and modern coastal construction quality. Priced to sell, the property is a tremendous value with 25,000 sq.ft. of land, nearly 2,800 sq.ft. of air conditioned space, nearly 2,000 sq.ft. of pool and lanai area, a 3 car garage, and room for a large outbuilding shed or additional garage. Gorgeous mahogany front doors open into the grand courtyard living area and pool lanai. Entertain, dine, or casually lounge in this stunning space with a large Spanish styled fountain offering serene water trickling sounds. The separate guest cabana suite offers unique privacy and opens directly onto the courtyard, and has its own full bath . The cabana is a favorite for guests and their hosts. The main home has another guest bedroom, den/office two full baths and the master suite upstairs has a charming balcony overlooking the courtyard pool area, and offers tremendous sunset views and partial views of the Intracoastal Waterway. The open layout combines the spacious kitchen, large great room and dining room creates into one sensational space with tall vaulted ceilings. The over half acre of land is beautifully landscaped with large mature tropical foliage, towering palm trees, and an enormous paver driveway that accommodates parking for multiple large vehicles. Engineered plans for a 22x24 outbuilding garage and much of the concrete block necessary to construct the garage are included in the purchase. The Association allows fencing, outbuildings, and room for vehicles. The Association has a private beach on Don Pedro Island, kayak launch and clubhouse. The picturesque Vanderbilt developed waterfront neighborhood brilliantly designed with over half acre lots winding around canals and the Intracoastal Waterway, and has grand banyan tree lined streets. The home is walking or golf cart distance to essential shopping, restaurants, and is close to historic Boca Grande, miles of tranquil beaches, three full service marinas, numerous golf courses, and world-class backwater and tarpon fishing.
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.
