Some homes check the boxes. Others instantly feel like the one buyers hoped would finally hit the market. Welcome to Cobblestone North, where this beautifully maintained 3-bedroom, 2-bath home offers the kind of move-in-ready opportunity buyers rarely find anymore. Built in 2019 and thoughtfully cared for since, this 1,670 SqFt home blends modern comfort with the warm, easy feeling you are searching for the moment they walk through the door. Originally purchased by the current owners as their next chapter, an unexpected relocation is now creating a rare second chance for someone else to call it home. Inside, the open-concept layout was designed for real life. The spacious living room flows naturally into the kitchen, creating the perfect setup for everything from busy mornings to relaxed evenings with friends and family. The kitchen features a large cooking island, generous pantry, and abundant cabinet space that makes the entire home feel functional without sacrificing style. Tucked privately at the back of the home, the primary suite feels like its own retreat, complete with a walk-in closet and ensuite bath featuring a tile walk-in shower. Step through the sliding glass doors and you’ll immediately understand why outdoor living matters in Florida. The screened-in porch overlooks a fully fenced backyard enclosed with vinyl fencing installed in 2022, offering privacy, peace, and the kind of space buyers picture themselves enjoying before they even move in. Located inside the quiet, highly desirable Cobblestone North community, the home is just minutes from Belleview schools, shopping, restaurants, and everyday conveniences while still feeling tucked away from the noise. The reality is simple: Buyers have seen plenty of houses lately. Very few feel clean, cared for, and effortlessly livable the way this one does. And homes that create that feeling tend to disappear quickly.
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.
