Motivated seller! Nestled in the charming community of Largo Knolls, this exquisite Colonial-style residence exudes timeless elegance and craftsmanship. Built in 1982, this detached home offers a harmonious blend of classic architectural features and modern comforts, making it a perfect retreat for those seeking both style and functionality. As you approach the property, the inviting façade showcases a traditional colonial design, complete with a stately front entry and meticulously maintained landscaping. Step inside to discover a spacious layout that boasts 1,692 square feet of finished living space, thoughtfully designed to accommodate both relaxation and entertaining. The heart of the home features a cozy fireplace, perfect for creating warm memories during chilly evenings. Natural light pours in through strategically placed windows, illuminating the inviting living areas and enhancing the home's warm ambiance. The connecting stairway leads to a partial daylight basement, offering endless possibilities for customization-whether you envision a home gym, a media room, or additional storage space. The property sits on a generous 0.31-acre lot, providing ample outdoor space for gardening, play, or simply enjoying the serene surroundings. The attached two-car garage, complete with a front entry and garage door opener, ensures convenience and ease of access, while additional off-street parking accommodates guests with ease. The expansive yard offers a blank canvas for outdoor enthusiasts to create their own private oasis. Imagine summer barbecues, tranquil evenings under the stars, or simply basking in the beauty of nature right in your backyard. Located in a peaceful neighborhood, this residence is not just a house; it's a place where memories are made. With its solid construction and good condition, this home is ready for your personal touch. Whether you're looking to infuse it with your unique style or simply enjoy it as is, the possibilities are endless. Don't miss the opportunity to own a piece of Largo Knolls that beautifully marries classic design with modern living. Schedule your private tour today and experience the charm and character of this remarkable property for yourself!
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.
