Vacation Year Round at your own slice of paradise. Enjoy this Lakefront living offering a wonderful 3 bed 2 bath with den/bonus space (not included in your already spacious square footage). Pull up and you will love the picturesque feeling of being on vacation. The fully fenced yard has views of the lake, the paddle boat is included - paddle down the canal that leads to Moon Lake offering playground, swings, exercise stations, basketball court, beach, picnic spots and a boat launch. Inside the home you will step inside the bonus space with living area with window seat overlooking the back deck and lake; a full bedroom/den is also available, upstairs you will enter the Grand Living room with wood burning fireplace and views of the lake and access to the screened lanai with a free grill, porch swing and firepit - enjoy all while taking in the evening lake air; the kitchen opens to the dining room and you also have a bonus space that could be a 2nd family and/or a country kitchen farm table seating area; kitchen includes stainless appliances, wood cabinets and granite tops; you will also find a powder room and laundry room including the washer and dryer; top floor offers your Primary suite with walk in closet which includes built ins; high volume ceilings and an ensuite bath with step in shower; the champagne balcony off the back has views of your back yard oasis. The secondary bedrooms have high ceilings, ample closet space with closet build in shelving, ceiling light fans and are light and bright. Full bath with tub/shower combo and updated vanity, mirror and lights complete this space and are conveniently located steps outside both bedrooms; You will enjoy the carport parking, but also so much space for extra toy parking! A must see - start living on vacation every day! Owner's pay $480/year for flood insurance and the policy is transferable.
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.
