Welcome to your dream home in the heart of Estero! This charming three-bedroom, two-bath single-family residence offers the perfect blend of comfort, style, and location. Step inside to find newly installed vinyl plank flooring throughout the main living areas, creating a modern and cohesive look. The bright, updated kitchen features 42-inch upper cabinets, a newer tile backsplash, refreshed door and drawer hardware, and ample counter space—all with an open view that extends through the great room to the screened lanai. Designed with an open-concept layout, this home boasts a seamless flow between the kitchen, dining, and living areas, ideal for both everyday living and entertaining. The master bathroom showcases a beautifully re-tiled shower with stylish Carrera tile. While the home may benefit from a little TLC, its potential shines through. Enjoy Florida living at its finest on your private, screened lanai with an oval-shaped pool and a secluded backyard that offers ample privacy. Located in the gated community of Colonial Oaks, residents enjoy low HOA fees, a community clubhouse with a fitness center, and a large heated pool. The location is unbeatable—west of I-75 and just minutes from Coconut Point, Hertz Arena, Miromar Outlets, RSW Airport, and stunning Gulf Coast beaches. Additional features include a two-car garage. Please note: this property is a short sale and is contingent on the approval of the sellers lender. Don’t miss the opportunity to own your own slice of Southwest Florida paradise!
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.
