Assumable VA Mortgage of about $270,000.00 at low intrest rate of 2,25%. Buyer does not have to be VA • 0.34-acre oversized waterfront lot • Saltwater pool • Private dock • New roof • New AC • Owned solar (2019) • Whole-house reverse osmosis system • 3-car garage • Fresh exterior paint • Roll-down storm shutters and much more... Experience breathtaking water views and peaceful waterfront living in this beautifully maintained 3-bedroom, 2-bath pool home situated on a rare 0.34-acre oversized fenced lot in Southwest Florida. This property is loaded with valuable upgrades, including a new roof, new AC system, new gutters, freshly painted exterior, and a whole-house reverse osmosis water system. The owned solar panel system installed in 2019 produces more than enough electricity to power the home, allowing the new owner to enjoy extremely low utility costs with only a $27 monthly LCEC connection fee. Step outside to your private waterfront oasis featuring a sparkling saltwater pool and a relaxing fire pit area overlooking tranquil waterways. Fish directly from your private dock or enjoy freshwater boating adventures from your backyard on the Horseshoe Hermosa Canal System, offering 61.7 miles of navigable canals. The expansive 0.34-acre fenced yard provides incredible space for entertaining, gardening, pets, or family activities. A three-car garage offers ample room for vehicles, storage, a home gym, or recreational equipment. The attic features solar fans for improved climate and heat control, creating additional functional storage space. Roll-down storm shutters protecting the lanai and the new roof add extra comfort and peace of mind. Financing Opportunity: This property includes an assumable VA mortgage of approximately $270,000 at a very low 2.25% interest rate. The buyer does not need to be a veteran, but must qualify with the lender to assume the loan—offering a rare chance to secure an exceptionally low-rate mortgage in today’s market. Combining waterfront serenity, major upgrades, energy efficiency, an oversized lot, and a unique financing opportunity, this Southwest Florida freshwater retreat is ready to welcome its next owner.
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.
