Welcome to this exceptional home in an ideally located neighborhood, sitting on over an acre of land with incredible curb appeal, showcasing classic red brick and majestic oak trees. An oversize side entry two car garage provides ample room for vehicle parking and storage. Inside, you are greeted by a spacious open floor plan highlighting soaring vaulted ceilings with rustic wooden beams, spotless tile floors, and an abundance of natural light throughout. The stunning kitchen is a chef’s dream, featuring beautiful cabinetry, a center island with bar top seating, granite countertops, decorative backsplash, stainless steel appliances, a built-in oven and an induction cooktop. An elegant dining space sits alongside the living room, complete with a beautiful brick fireplace and sliding glass doors that open to the screened patio. Retreat to the generously sized primary suite, boasting direct patio access and a newly renovated ensuite bath equipped with a private tile shower with glass door, dual vanities, and a walk-in closet. Two spacious guest bedrooms feature warm laminate flooring and share a well-appointed, newly renovated guest bath with dual sinks and a tub/shower combo. A third bathroom is conveniently located through the garage near the dedicated laundry room, perfect for washing up after a day of fun in the Florida sun. Step outside to your outdoor oasis, where an enclosed patio with a beautiful wood plank ceiling and a built-in brick fireplace/grill awaits. The massive fenced in yard features a fire pit, a sparkling above ground pool with a custom sun deck, and a 1,034 sq ft detached building featuring a 2-car garage door, suitable for workshop or boat &/or additional vehicle parking. Nature lovers will enjoy being within walking distance to the Seminole-Wekiva trail, which provides access to the Wekiva river, wildlife and conservation areas, springs, and parks. Located near highly rated Seminole County schools, like Wilson Elementary, major roadways including I-4 and 417/429, the Orlando Sanford International Airport, Sylvan Lake Park Soccer complex, and historic Downtown Sanford and Colonial Town Park in Lake Mary which both host tons of community events and markets. This property truly has it all! View the 3D tour and schedule your private showing today.
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.
