One or more photo(s) has been virtually staged. GATED, HARDWOOD TRAILS A 55+ COMMUNITY FEATURES OPEN FLOOR PLAN, CONCRETE BLOCK HOME WITH PRIVATE BACK COVERED LANAI WITH PRIVACY SCREEN. FRONT PORCH LEADS FOYER OPENING TO DEN/OFFICE ON LEFT WITH PLANTATION SHUTTERS(WHOLE HOME) STRAIGHT AHEAD SPACIOUS LIVING ROOM WITH VAULTED CEILINGS AND TO RIGHT THE FIRST OF 2 DINING AREAS. THE FOCAL POINT OF THE HOME IS THE KITCHEN OVERLOOKING ALL OF THESE AREAS FEATURING, STAINLESS STEEL APPLIANCES, CUSTOM BACKSPASH AND MASSIVE ISLAND WITH ROOM FOR 8 8 BAR STOOLS. BEHIND THE KITCHEN ARE THE 2 SECONDARY BEDROOMS SHARING THE SECOND BATH WITH COMBO TUB/SHOWER. INSIDE LAUNDRY ROOM JUST OFF KITCHEN LEADING TO 2 CAR GARAGE WITH EPOXY FLOOR, SLIDING SCREEN, IRRIGATION AND PULL DOWN ATTIC WITH STORAGE. ACROSS THE HOME IS OVERSIZED PRIMARY BEDROOM WITH SITTING ROOM AND PRIVATE DOOR LEADING TO COVERED LANAI.. PRIMARY BATH HAS 2 WALK IN CLOSETS AND HALLWAY LEADS TO GARDEN TUB, GLASS SURROUND DOOR SHOWER AND DOUBLE VANITY. STEPPING BACK THROUGH LIVING ROOM AREA AND THROUGH THE DOUBLE SLIDING DOOR ONTO COVERED AND SCREENED LANAI. JUST OUTSIDE THE LANAI IS 12 X 12 PATIO WITH PRIVACY FENCE DIVIDER. BACKYARD HAS TALL SHRUBS FOR ADDITIONAL SEPARATION. HOME HAS 2024 30 YEAR ARCHITECTURAL ROOF WITH RAIN GUTTERS. 2024 HVAC, 2024 EXTERIOR PAINT, ALL LIGHTS AND CEILING FANS 2023, AND 2020 INTERIOR PAINT. ALL IN A LOW MONTHLY HOA OF $271 A MONTH WITH ACCESS TO COMMUNITY POOL, CLUBHOUSE AND CLUBS. LIBRARY NEXT DOOR AND NEW PUBLIX SHOPPING CENTER A STONE THROW AWAY!
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.
