LOW INTEREST ASSUMABLE VA LOAN AVAILABLE FOR ELIGIBLE VA BUYERS... WATERFRONT SUNSET VIEWS FROM SCREENED PATIO WITH DEEDED DOCK AND LIFT! Enjoy 22.7 feet of deeded seawall, a like-new 2022 jet ski included with purchase, and low HOA fees of just $360/month! Peaceful waterfront living at its finest in highly sought-after Catalina Cove. Relax and unwind as manatees and dolphins play just beyond your own front yard, creating a truly exceptional coastal lifestyle! This updated, move-in ready three-bedroom, two-and-a-half-bath private end unit townhouse offers the perfect blend of comfort, style and coastal convenience. Ideally located near Gulf beaches with easy access to the Intercoastal Waterway, this exceptional property includes an updated deeded boat slip and a like-new 2022 jet ski with purchase (with only 7.5 hours used), making it effortless to embrace the Florida waterfront lifestyle! Enjoy paddleboarding, kayaking, jet skiing, or simply cruising the waterways right from your front yard. The open-concept floor plan is designed for entertaining, featuring spacious living area, seamless indoor-outdoor flow, and a charming wood-burning fireplace that creates warmth and character. Residents of this pet-friendly community may enjoy two pets (up to 50 lbs each), along with resort-style amenities including a heated/chilled inground pool, and tennis/pickleball court. Deeded carport included steps away from your front door, and ample guest guest parking for visitors. Enjoy peace of mind with major updates already completed, including a new roof in 2022, updated electrical panel 2022, all new impact windows and doors 2024, HVAC system replaced in 2023, updated plumbing 2025, a new electric hot water heater replaced in 2025, and updated dock and lift in 2021. The low monthly maintenance fee of just $360 covers water, sewer, trash, tennis court, pool, grounds maintenance, and more, making this waterfront gem as practical as it is desirable!
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.
