150 feet of pristine canal frontage on the most sought-after canal on the Clermont Chain of Lakes, located just one home from Lake Minnehaha, this exceptional waterfront property gives the rare combination of protected canal living with immediate access to open-lake boating. From the back door, it’s just a few short moves — approximately 15 moves — and you are on your boat, ready to cruise the Clermont Chain of Lakes. Set on an oversized 0.55-acre waterfront lot, the property enjoys one of the widest and deepest stretches of the canal, providing unmatched privacy, expansive water views, and the flexibility to launch and remove your boat directly from your own lot. Mature canopy oak trees frame the backyard, creating a serene, shaded setting that feels private yet connected to the water lifestyle this location is known for. Designed for both everyday enjoyment and entertaining, the outdoor living space features a Trex dock, 23-foot boat lift, and three-kayak storage rack, making it effortless to enjoy boating, fishing, paddleboarding, and sunset cruises. The expansive backyard easily accommodates large gatherings of 75+ guests, with ample space for entertaining, parking, and waterfront events — a rare find on the Chain. Inside, the home gives approximately 2,121 square feet of comfortable living space with an open, functional layout and extensive updates completed over the past three years. The remodeled kitchen features quartz countertops and high-end stainless steel appliances, blending modern finishes with timeless appeal. Additional upgrades include new drywall and electrical throughout, fresh interior and exterior paint, a new roof, new interior doors and all new trim work, custom blinds on every window, updated flooring in multiple rooms, and high-end ceiling fans throughout. The entire attic and garage are double-insulated, contributing to energy efficiency and year-round comfort. The property is exceptionally well-equipped with a 2.5-car attached garage, two large storage sheds, vinyl privacy fencing, and a private irrigation system pumped directly from the canal. A full RV port with water and power hookups adds rare flexibility for RV owners, guests, or additional recreational storage. Located in a golf cart-friendly neighborhood with no HOA, this one-owner home has been meticulously maintained over the years. Enjoy the unique lifestyle of boating directly from your backyard to downtown Clermont, where waterfront dining, festivals, live music, and evening nightlife are all just minutes away by boat or car — while still returning home to the calm, protected waters of the canal. Listed below recent appraised value, this property represents an exceptional opportunity where the land value alone is significant, with recent waterfront land sales on the Chain supporting the underlying value. The home, dock, RV port, sheds, and mature landscaping create a compelling offering that is increasingly difficult to replicate. Homes with this level of frontage, proximity to open water, privacy, and boating convenience rarely become available. A one-year home warranty is included for added peace of mind.
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.