PRICE GREATLY REDUCED FOR QUICK SALE! Assumable 5% interest rate FHA loan being offered for those who qualify. Must use Seller's Lender to receive this benefit! 29 years remain on the loan! Approx. $5K down, and $1800 transfer fee, plus limited closing costs apply. NOTE: FLDOT has started construction to alleviate traffic on I-4 route. Details available. GET A GREAT DEAL ON THIS HOME TODAY...KEEP A GREAT DEAL ON THIS HOME FOR THE FUTURE! **** PRICED LOWER THAN ORIGINAL PURCHASE! [NOTE: BLUE STRIPE WALLS HAVE BEEN PAINTED SOLID LIGHT GRAY; PICTURES WILL BE UPDATED IN NOVEMBER.] WATER VIEWS AND NEAR CUL-DE-SAC! Beautiful Home Boasts Block Construction, Stainless Steel Appliances, Sleek Granite Counters, Ceramic Tile Flooring, Digital Front Door, Connected Smart Home Technology, and Additional Upgrades Added: Screened Back Porch, (4) Ceiling fans, Upgraded Paint, Decorative Cabinetry Knobs, Shower Curtain Rods, ADT Monitoring with IQ Digital Panel ($64/Month for monitoring) with Exterior Camera Monitoring. AREA FEATURES: Convenient Location within minutes to Medical Facilities, Churches, Restaurants, Home Depot, and other nearby sustainabilities. COMMUNITY FEATURES: Pool & Cabana, Nature Trails, Exercise/Fitness Stations, Park Benches, Playground... Spacious Home with lots of storage, closet pantry, two hallway linen closets, high ceilings & more! Well-groomed Large Retention Pond displays beautiful sunrise skies for your morning coffee (and no rear neighbors directly behind)! Come live the good life!
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.
