This adorable 2-bedroom, 2-bath home is full of charm and offers wonderful potential for you to make it your own. Ready for its new owners, the home features newer tile flooring and charming built-in shelving that adds both character and functionality. Located just minutes from downtown Tavares—known for its tree-lined streets, year-round festivals, and vibrant lakeside activities—this property also offers deeded access to Lake Dora, making it easy to enjoy the Florida lifestyle. This home located very close to Lake Dora. The property is specifically noted for having deeded access to this lake, which is part of the Harris Chain of Lakes. It is situated in a neighborhood near Lake Dora Drive in Tavares. This home offers lots of fun activities nearby including but not limited to being centrally located near top Lake County attractions, focusing heavily on waterfront recreation, parks, and charming downtown spots. Key nearby activities include boating and fishing at Hickory Point Park, exploring the seaplane-themed splash pad and events at Wooton Park, and visiting the Lake County Historical Museum and much more ... The vintage style kitchen showcases its cabinetry and built-in pantry closet, while the classic built-in oven has recently been replaced with a newer model, and so has the dishwasher which is still under warranty, and you will appreciate the newer tile flooring, but You still feel the blending nostalgic charm with modern convenience. Very important to know that the electrical panel inside the utility shed has been replaced by current owner to a siemens which is one that is up to code. *** THE ROOF IS A 2023*** look at the aerial pictures which shows it to look in good conditions. This home has sewer (no septic) and public water (not a well). The outdoor utility room provides ample storage for seasonal décor and additional belongings The washer and dryer hookup is also in this utility shed, the washer and dryer do not convey. Situated on a desirable corner lot measuring approximately 0.22 acres (nearly ¼ acre), this delightful gem is full of personality and ready to be treasured by its next owner. Don’t miss this rare opportunity! Please take note that the portable microwave, washer, dryer, the furniture and car in pictures do not convey with the sale of the house! ...
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.
