20751 Gardenia Dr Land O Lakes, FL 34638
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About this home
Welcome to a rare Florida find where vintage charm meets modern comfort. This beautifully maintained cottage sits on a private oversized lot and offers nearly 2,300 sq ft of flexible living space. Inside, ceramic tile floors connect an open layout with a spacious living room, dining area, and office. Storm windows fill the home with natural light, and the kitchen features solid cabinetry and plenty of room to cook and entertain. The main-floor primary bedroom includes a built-in closet and soft carpeting. Two additional bedrooms allow for space for guests or hobbies, and an 18x16 workshop adds even more versatility. Step outside to your private oasis: a large patio, sparkling saltwater pool with child safety fence, and peaceful wooded views along 80 feet of waterfront on Red Bug Lake—perfect for kayaking, paddleboarding, or relaxing by the water. A converted garage, storage shed, and generous driveway add convenience. With sturdy block construction, a shingle roof, and no HOA, CDD, or lease restrictions, this home gives you freedom and long-lasting value.
Source: STELLAR #TB8449001
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FAQs
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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.