AMAZING WATER VIEWS, BOATING, AND WATERSKIING, ALL IN YOUR VERY OWN BACKYARD AT LUCAYA LAKE! Welcome to this incredible lakefront home that was an original model for the GATED LUCAYA LAKE CLUB community. With 4 Beds and 3 Baths, plus a home office and bonus room, the floorplan is ideal for everyday living and entertaining. Step inside to tall ceilings, luxury finishes, and gorgeous LVP flooring that runs throughout the main living areas, bonus room, home office, and the primary bedroom. The floor plan is open and airy and starts with a formal dining room opposite the foyer from the home office, with French doors for privacy and quiet. Next is the kitchen with a large working island with a breakfast bar, lots of counter space and cabinet storage, a closet pantry, and stainless-steel appliances that include a gas range and double ovens. All this overlooks the casual dining area and a spacious great room with sliders and views of the lake. The smart design features three wings to the home. The first is the primary suite with walk-in closets and a stunning bath with high-end finishes. The second is the bonus room with a full bath and bedroom, ideal for an in-law suite, and includes a separate entrance. The third features two more spacious bedrooms and another full bath. Extra home features include overhead storage in the garage, a whole-house generator, and hurricane shutters. With cooler months around the corner, the screened lanai is the perfect spot to enjoy the beautiful water views and entertain by putting the custom, teak wet bar with storage to good use. Or take your boat on the lake from your dock that was constructed in 2022 with composite decking, which is shared with one immediate neighbor and features an electric boat lift rated for 7,500 lbs. For active lifestyles, the community amenities are a short walk next door and include a resort-style pool, splash pad, and 24-hour fitness center. Thank you for your interest in the beautiful home and for taking the time to see it in person.
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.
