Pride of ownership is evident throughout this well maintained, Gormay floorplan. This single-family, 2 Bedroom / 2 Bath / 2-car garage block home is located on an oversized lot boasting great curb appeal with a Paver driveway and front porch, shade awning, decorative concrete flower bed curbing, mature landscaping and double-paned windows. Enjoy a book or a beverage from your private rear patio or enjoy calming views of the neighborhood and cul-de-sac from the shaded front porch. The 1,776 sq ft of living space includes spacious rooms with a combination of tile and luxury vinyl (Bedrooms / Bathrooms) flooring and vertical blinds throughout. The updated eat-in Kitchen is designed with extra cabinetry complimented with granite countertops, stainless steel sink and appliances, a passthrough window to the Florida Room and access to the 13x15 Bonus Room which can accommodate a variety of needs - office, den, craft/sewing room or storage. A set of Maytag Bravos High Efficiency Washer & Dryer are located behind louvered closet doors in the Kitchen along with an additional cabinet and a full set of wall cabinets for more storage capacity. A linen closet is found in the hallway to the Bedrooms. The spacious Master Bedroom has an oversized walk-in closet and Ensuite Bathroom with shower. The 11x12 Guest Bedroom has a walk-in closet as well. Both Bathrooms have been updated with new comfort height vanities, faucets, and lighting. The garage measures 19x21 and offers a Chamberlain Belt Drive Wi-Fi Garage Door Opener with external keypad, a pull-down attic ladder, recently painted epoxy floor and a Square D electric panel. The cement tile roof was replaced in December, 2020. Other updates include a 3-Ton Comfortmaker HVAC (2024), HWH (2018) and an Eaton Electric Panel (2020). Monthly maintenance of $342.59 includes water/sewer/trash, 1 HD cable box, 1 DVR/DVR recording services, 1 modem and a Wi-Fi router for internet, exterior painting, lawn care, and irrigation with reclaimed water! Mainlands is an active 55+ community offering a variety of activities, clubhouse, heated in-ground pool, shuffleboard courts, nearby shopping, restaurants, banking, Parkside Mall, beaches, sporting & cultural venues, medical care, highways and airports. The community surrounds an 18-hole public golf course and is located adjacent to Freedom Lake Park which has paved walking paths around 2 lakes, an outdoor workout area, playground, picnic pavilions, a dog park, and sailboat racing! 2 pets, 35 lb. max are welcome. Come live this maintenance-free Florida Lifestyle - schedule your 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.
