Welcome to this well maintained single-family home that blends comfort, efficiency, and natural beauty in every detail. With sweeping views from nearby Lake Mac, a conservation area right in your backyard, and a seamless design, this home invites you to enjoy each day to its fullest in the much desirable Encore At Ovation Community. Built on a premium upgraded lot in 2021 by M/I Homes, this property boasts almost 3,000 sqft of living space with an open-floor plan, featuring 4 bedrooms and 3 bathrooms. Step inside to discover a light-filled living area with endless possibilities. The heart of the home is the gourmet-style Kitchen which opens up to the Living Room, overlooking the conservation and lake areas. Fully equipped with energy efficient stainless steel appliances, it offers a gas stove top, microwave/oven wall unit, granite countertops, and a glass-door walk-in pantry that provides ample storage space. Step outside to the Screened Lanai with your favorite beverage for some peaceful outdoor cooking, or simply to enjoy the stillness of nature, just yards away from the lake. Retreat to the Primary Bedroom, complete with its 2 walk-in closets, large and spacious bathroom area, with separate sinks on opposite sides, also overlooking the conservation area. The remaining Bedrooms are located on opposite sides of the Primary for added privacy. One of them features its own private bathroom, which can be used as a separate Primary Bedroom or the perfect Guest Room. The others can be used as additional Bedrooms or Offices. Enjoy the Laundry Room, which also features energy efficient appliances, complete with high end washer and dryer, a utility sink, storage cabinets, and even a folding countertop for your convenience. Take advantage of the Florida sun and allow your newly installed solar panels to produce energy for your home and become the envy of your friends and neighbors with your low monthly electric bill (Solar Panels will be transferred to new owners). The home also offers a water filtration system, portable generator, and an electric car charging station in the garage (240 Amp). The builder left no stone unturned with this amazing house conveniently located with easy access to major attractions, restaurants, shops, and the best that Central Florida can provide you. Make it your personal sanctuary today! Welcome Home!
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.
