Incredibly rare lakefront opportunity on Grandin Lake, offering over 160 feet of direct waterfront and true “Lake Life” amenities at their finest. The owner’s relocation gives you the unique chance to secure this spacious 4 bed / 2 bath home on a double lot at the lowest price per sq ft in the area by far. Light cosmetic touches may be needed, but absolutely no major issues. So what makes this one so special? 1) Over 160 feet of direct frontage on Grandin Lake, a fully recreational 400+ acre lake perfect for wakeboarding, wakesurfing, skiing, fishing, and more. 2) Brand new metal (tin) roof installed in 2017 with a 25-year warranty. 3) Remodeled kitchen with ample space for entertaining and everyday living. 4) Fully renovated master bathroom featuring a large walk-in tile shower with multiple shower heads, including a ceiling rain feature. 5) Spacious 4 bed / 2 bath layout with large living and dining areas, fireplace, and tile, wood, and bamboo flooring. 6) Massive 1,440 sq ft half-wrap deck facing the lake, shaded by beautiful mature Live Oak trees. 7) Covered screened-in outdoor space attached to the deck, perfect for cooking, relaxing, and enjoying the breeze. 8) New central A/C system in 2016, consisting of a Carrier 3-ton unit matched with an air handler inside. 9) Huge separate detached party room building complete with a full bar, double stainless steel sink, wine storage, full-size fridge, kegerator, and space for a pool table, poker table, darts and more. 10) Additional outdoor entertainment area attached to the party room with a 12x12 deck and fire pit overlooking the lake. 11) Large .4 acre double lot, providing ample storage space for RVs, boats, and all your toys, giving you the room and freedom to fully enjoy lake living. 12) Water softener system. 13) Remodeled dock. 14) Unmatched sunset views over the water that you’ll never forget. Properties offering this level of waterfront, land size, and entertainment potential are extremely rare. Whether you're looking for a primary lakefront residence, vacation home, or high-upside retreat, this property delivers the space, views, and endless lifestyle possibilities all in one package. Easy to show. No HOA/CDD. Feel free to soft pitch before writing anything up. MLS info sheet and disclosures available. No assignable contracts accepted.
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.
