BRAND NEW ROOF TO BE INSTALLED PRIOR TO CLOSING. Welcome to this super cute 2-bedroom, 2-bath home nestled in the highly desirable 55+ Brookridge community. From the moment you arrive, you'll appreciate the lovely front yard featuring attractive rockscaping, offering beautiful curb appeal with zero lawn maintenance required. Step inside and discover a spacious open floor plan that seamlessly connects the living, dining, family room and kitchen areas, perfect for entertaining guests or enjoying quiet evenings at home. The eat-in kitchen offers newer counters, lots of cabinets, providing ample space for all your cooking needs. The master bedroom offers a spacious walk-in closet, providing ample storage. The connected master bath features dual sinks for convenience, a relaxing bathtub, and a separate shower. The second bedroom also features a generous walk-in closet, ensuring plenty of storage space for occupants or guests. Adjacent to the bedroom is the second full bathroom, providing privacy and comfort. This property boasts a huge storage room, ideal for keeping seasonal items, hobbies, or extra belongings organized. The room includes a washer and dryer for laundry convenience, as well as an additional storage area to meet all your household needs. Recent updates and features include newer AC, new water heater, updated wiring, updated windows. The generous layout provides plenty of natural light and a warm, inviting ambiance throughout. Brookridge offers an array of amenities, including a heated pool, tennis & pickleball courts, golf course, horseshoes, bocce, pickleball, a community center, and much more. Best of all, you own your land, and HOA fees remain low, maximizing value and enjoyment. Just minutes from the famous Weeki Wachee live mermaids, Pine Island Park, and Roger’s Park for endless fun on the water. Close to shopping, dining, major medical facilities, and the Suncoast Parkway for easy commutes to the airport, Tampa, Clearwater, St. Pete Beaches (ranked among the top five U.S. beaches), and the renowned Tarpon Springs Sponge Docks.
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.
