LAKEFRONT PARADISE on Beautiful Lake Josephine! Nestled beneath a majestic canopy of mature oak trees on a breathtaking lot, this beautifully remodeled lakefront showplace offers the perfect blend of luxury, comfort, privacy, and tranquility. Perfectly positioned along the scenic shores of Lake Josephine, this exceptional home captures spectacular sunrise and sunset views while providing a peaceful retreat from the hustle and bustle of everyday life. The thoughtfully designed open floor plan features 3 bedrooms, 2 bathrooms, and expansive living spaces filled with natural light from large windows that showcase stunning water views from nearly every room.The completely renovated interior combines modern upgrades with classic lake house charm. Recent improvements include a new roof,windows siding, HVAC systems, luxury vinyl plank flooring throughout, fresh interior and exterior paint, updated bathrooms, elegant marble and solid-surface countertops, and a beautifully remodeled kitchen featuring granite countertops, abundant cabinetry, stainless steel appliances, and a bright open design ideal for entertaining.The home's living room, family room, dining area, and kitchen flow seamlessly together, creating inviting gathering spaces for family and friends. One of the most remarkable features is the custom artistic etched-glass window overlooking the expansive wraparound glass porch, creating a truly one-of-a-kind focal point while framing breathtaking views of Lake Josephine. The lakeside screened porch is the perfect place to entertain, relax, or simply enjoy the peaceful waterfront setting.The spacious main-level owner's suite offers tremendous flexibility and could easily serve as a private office, study, or be reconfigured to create an additional bedroom if desired. Upstairs you'll find two additional bedrooms and a full bath, including one bedroom featuring a cozy wood burning fireplace and beautiful lake views. The home includes two fireplaces—one upstairs and one downstairs—adding warmth and character throughout.Additional features include central vacuum, a charming country-style screened front porch, a one-car attached garage currently utilized as a hobby shop, a detached two-car garage, and a massive 26' x 34' storage barn/workshop offering endless possibilities for hobbies, storage, a workshop, or the ultimate man cave.Lake Josephine is a premier 1,304-acre recreational lake renowned for exceptional largemouth bass fishing, boating, swimming, and abundant wildlife, including ducks, otters, and other native Florida species. Whether you're searching for a full-time residence, seasonal retreat, vacation home or investment property with vacation rental potential, this remarkable property offers endless possibilities.Enjoy the feeling of a secluded waterfront paradise while remaining conveniently located just minutes from Sebring and the charming resort town of Lake Placid.This is Florida lakefront living at its finest!
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.
