Enjoy the landscaped walkway to your new front patio with custom wood ceiling and plenty of sitting space which is a wonderful place to relax. This lovely 3-bedroom, 3-bathroom home with detached Workshop/Office is located 2 blocks from the Saint Cloud Lakefront Park. Once you walk through the front door into the foyer, you'll be pleasantly surprised by the spacious layout. There is a formal dining area off to the side that accesses the kitchen and offers a walk in closet storage area. The kitchen was recently updated and boasts a passthrough window to the backyard, solid wood cabinets, granite counter tops and newer appliances! The custom Built-In dinette area is perfect for those holiday get togethers and family dinners. Head through the living area to the Family room that showcases a projector AND screen to watch your favorite movie or Sport game. The hallway adjacent from living room accesses all 3 bedrooms, and a full guest bathroom. The Master bedroom with dual closets and bathroom en suite with walk-in shower is fit for a king! The adorable utility area with shelving sits just off of the kitchen and leads to the garage where you will find 1 of the bathrooms. The dinette area leads out to the rear wooden deck covered patio and opens to the fenced in backyard with firepit, detached block Workshop/Office. The Workshop/Office offers electricity, window unit A/C and was recently drywalled. There is an outdoor covered Grill area that is perfect spot for the BBQ Grill or Smoker. But wait, there is still so much more! In 2020 the A/C, Roof and Storm/Hurricane proof windows were installed. If that didn't do it for you then how about in 2021 PAID OFF Solar Panels were installed and significantly REDUCED the electric bill! The fenced backyard features a garden with a well for irrigation and a fire pit for those chilly winter night. Schedule your showing today and live within a short distance of gorgeous sunrises and sunsets, a sandy lakefront beach, 4 miles of walking paths, 2 piers, a marina and restaurant at the Saint Cloud Lakefront.
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.
