Nestled within the prestigious Fawn Lake community, this exquisite Colonial-style residence offers a harmonious blend of luxury and comfort, perfect for those seeking an elevated lifestyle. Spanning over 4,286 square feet, this meticulously maintained home features four spacious bedrooms and three and a half elegantly appointed bathrooms, ensuring ample space for relaxation and entertainment. Step inside to discover an inviting open floor plan that seamlessly connects the gourmet kitchen to the family room, creating an ideal setting for gatherings. The kitchen is a chef's dream, equipped with stainless steel appliances, including a built-in microwave, wall oven, and a down-draft cooktop, complemented by abundant cabinetry and a convenient extra refrigerator/freezer. The dining area, adorned with crown moldings and chair railings, sets the stage for memorable meals. Retreat to the primary suite, where luxury meets tranquility. Enjoy the indulgence of a soaking tub and a separate stall shower in the primary bath, along with generous walk-in closets that provide ample storage. The fully finished daylight basement, complete with a walkout entrance, offers additional living space, perfect for a home theater or recreational area. Outside, the property boasts a beautifully landscaped lot of one acre, featuring mature trees and a serene rear yard that invites outdoor enjoyment. The expansive deck provides a perfect vantage point to soak in the stunning views of Fawn Lake, where water activities abound. With private access to the lake, indulge in boating, fishing, or simply basking in the sun by the water's edge. The Fawn Lake community enhances this luxurious lifestyle with an array of amenities, including a clubhouse, fitness center, and multiple recreational facilities such as tennis courts, swimming pools, and walking paths. Enjoy the peace of mind that comes with living in a gated community, complete with security features and well-maintained common areas. This home is not just a residence; it's a lifestyle choice that offers the perfect blend of elegance, comfort, and community. Experience the tranquility of lakeside living while being just moments away from vibrant local attractions. Embrace the opportunity to call this stunning property your own, where every day feels like a retreat.
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.
