Indulge in the epitome of luxury living in this fully renovated 5-bedroom, 5-bath home with an oversized loft! Nestled on a sprawling .66-acre lot within the confines of a lovely gated community in beautiful Spring Hill, Florida. This magnificent residence showcases unparalleled craftsmanship and attention to detail, making it a true gem in the neighborhood. As you step inside, you'll be greeted by a grand foyer that sets the tone for the opulence that follows. The open and airy layout seamlessly connects the living spaces, ensuring a harmonious flow for both everyday living and entertaining. The gourmet kitchen is a chef's dream, boasting high-end appliances, in wall, double oven, custom cabinetry, a center island, and elegant finishes that will inspire your culinary endeavors. With five generously sized bedrooms, each featuring its own ensuite bathroom, this home offers the utmost in comfort and privacy for your family and guests. The den provides an ideal space for a home office, library, or flex room to suit your needs. Step out into your private oasis and discover the expansive .66-acre lot, complete with lush landscaping, a sizable lanai, and plenty of room for a sparkling pool. It's the perfect setting for outdoor enjoyment and relaxation. This exceptional property is located within a gated community, providing security and tranquility, while still being conveniently close to local amenities, top-rated schools, and recreational facilities. This is not just a home; it's a lifestyle upgrade that combines elegance and comfort in one stunning package. Schedule your private tour today to experience the grandeur of this exquisite 5-bedroom, 5-bath home in Spring Hill, Florida. Don't miss the opportunity to make it your own!
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.
