Welcome to 918 S. Palmetto Avenue! This 1921 Colonial Revival home is located on a large corner lot in Historic Downtown Sanford’s Residential Historic District. Featuring 3 bedrooms, 2 1/2 bathrooms + 2 flex rooms, this home also has a 600+ sq. ft., 2-car detached garage (new garage door doors with openers, 2025). This home has been thoughtfully renovated over the last decade, and the end result is a beautiful home that is also COMFORTABLE and FUNCTIONAL for modern day living. As you enter the home's foyer you'll notice the stately staircase, the centerpiece of the traditional Center Hall Colonial floor plan. The dining room and kitchen have been updated to an open floor plan, with a Carrera marble peninsula-style countertop, traditional white cabinetry, stainless steel appliances (natural gas range) and subway tile back splash. This kitchen features 3 pantries, one of which is currently used as a party closet! Around the corner is a nook/bar area, followed by the mud porch, and downstairs powder bath. The large living room features 4 large windows, a decorative brick fireplace, a custom built-in bookcase (2017), custom draperies, and 2 French doors leading to a sunroom/flex room/office. Hardwired ceiling speakers are located throughout the downstairs of the home - so great for entertaining! Beyond the living room is a downstairs sunroom/flex room/office, filled with windows that make it a light and bright space - perfect for an office or den. Upstairs, surrounding a large and open upstairs landing, you'll find the large primary suite, two additional bedrooms, large full bathroom with double sink vanity sink, and upstairs laundry room. A small yet magical room is found at the top of the stairs - a flex room, perfect for a small office, nursery, meditation/yoga retreat, reading nook...the big primary suite features three large double-hung windows, as well as a wall of custom closets installed by Closet by Design (2024). Walking into the classic en suite bathroom is like stepping into a relaxing spa, featuring Carrera marble tile, an antique cast iron claw foot tub, windows, amazing natural light, double sink vanity, and plenty of spaces to store everything neatly. The nearly .25 acre corner lot also features a private wood-fenced (2024) backyard, with a masonry garden wall, original brick paver patio, TREX deck, and a 600 SQ FOOT DETACHED GARAGE. This home is move-in ready: HVAC 2016 and 2021, ROOF 2021, full electrical re-wire 2016, re-plumbed (PEX and CPVC), natural gas tankless water heater, and new natural gas line (2016.) The irrigation system provides reclaimed water. Nearly all of the original double-hung wood windows have been professionally restored. This home was selected as the filming location for two DISNEY commercials and just last month, a feature film, reflecting its timeless appeal and photogenic design. She has been LOVED and is ready for her lucky new stewards! The detached garage also offers opportunities for ADU conversion to become a mother in law suite, pool cabana, guesthouse etc. Don't miss your chance to own a piece of Sanford's past and future in this special home, neighborhood and community.
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.
