Welcome to a lakeside retreat designed for modern living at 125 Lakeside Drive Unit 609 in Bloomingdale. This spacious 1,373 sq ft condo blends panoramic lake views with sophisticated amenities, creating a haven that perfectly fits the energy and style of young professionals, downsizers, first- time home buyers. Come home to a place where each day begins and ends with the tranquility of the water, a warm community atmosphere, and everything you need for a vibrant lifestyle. Step inside to discover two spacious bedrooms and the two tastefully appointed bathrooms with versatile open spaces that flow freely. Entertainment is a breeze and offers the perfect setup for cozy nights in. Enjoy the convenience of in-unit laundry, eliminating the stress of shared facilities, while generous storage lockers keep your belongings organized. The elevator building not only adds ease to daily routines but also welcomes you and your guests in style, ensuring both accessibility and comfort. The spacious balcony offers an ideal spot for unwinding with a coffee or hosting friends for summer evenings spent soaking in the view. The access to building amenities such as the sauna and clubhouse means wellness and connection are always just steps from your door, giving you a perfect balance of private retreat and active social life. Bloomingdale offers a vibrant mix of recreation, dining, and convenience, with everything you need moments away to fit your busy schedule and active lifestyle. Whether you are finding balance with a peaceful morning by the water or meeting friends in the resident clubhouse, the perks of this neighborhood create the ideal backdrop for personal and professional growth. Come experience how this exceptional condo is uniquely crafted to elevate your daily routine and downtime alike. Schedule your private showing today and see why lakeside living at 125 Lakeside Drive is the perfect next step.
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.
