Discover the charm of Shore Acres, one of Lakeland’s classic Central Florida neighborhoods tucked between the shimmering waters of Lake Bonny to the south and Lake Parker to the north. This inviting mid-century residence sits on an oversized 10,000+ sq ft corner lot, offering room to expand, garden, play, or park your RV, boat, or outdoor toys — all without the restrictions of an HOA. The setting feels like a vintage Florida postcard: mature shade trees, tropical accents, and quiet streets just moments from parks, lakes, and Lakeland’s lively downtown district. The home welcomes you with abundant natural light, beautiful windows, and a layout that blends comfortable living with flexible space. Enjoy a bright dining room with a bay window, generously sized bedrooms, and a 4th bedroom that doubles perfectly as a home office, studio, or craft space. Crown molding accents many rooms, adding a touch of character that complements the home’s mid-century roots. The kitchen has been thoughtfully remodeled with new stone countertops, custom hardwood open shelving, porcelain farmhouse sink, new cabinetry, and stainless steel appliances. The same custom wood details continue into the completely updated main bathroom. A remodeled half bath features a stylish barn door, modern vanity, and new tile. Nearly every surface inside the home has been refreshed, making it move-in ready for the next chapter. Outdoor living shines here. With a lot this size, you can create the Florida backyard of your dreams — shaded seating areas, play space, gardens, or even an accessory dwelling option (verify with city). The lot offers privacy, breathing room, and the feeling of an old-Florida neighborhood where life slows down a bit. The location is truly unbeatable: • Minutes to Downtown Lakeland, with its expanding dining, entertainment, arts & events • Close to Southeastern University, Florida Southern College, and Lake Morton’s iconic swans • Easy access to parks, walking paths, and recreational lakes • Convenient routes to Tampa, Orlando, and major Central Florida attractions • A community ideal for first-time buyers, snowbirds, investors, or downsizers seeking value and long-term appreciation This is a warm, welcoming home in a neighborhood known for its history, character, and central convenience. If you’ve been searching for a property with space, charm, character, and a genuine sense of place, this Shore Acres opportunity is one you won’t want to miss. Bonus 5th room ("finished garage" for bedroom, studio, in-law, or bonus room. PROPERTY HAS 4 BR AND BONUS ROOM (ENCLOSED GARAGE). Schedule your private showing today and experience why this corner of Lakeland continues to capture hearts year after year!
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.
