Welcome to the Manor House at Lake Kerr – a truly one-of-a-kind custom estate, artfully designed with exceptional craftsmanship, high-end finishes, and timeless architectural detail. From the grand entrance framed by dramatic cypress pillars to the intricate millwork and travertine flooring throughout, every element exudes quality and elegance. The main residence features 3 bedrooms—potentially 4—and 4.5 bathrooms. The expansive first-floor primary suite offers French doors opening to the rear terrace, a private sitting room with fireplace and dry bar with refrigerator, a spa-inspired bathroom with vanity area, and a generous dressing room. Upstairs, all bedrooms enjoy French doors that open to covered wood balconies. One spacious bedroom includes an ensuite bath, while another features an additional sleeping loft—ideal for extra guests. A charming upstairs sitting room with its own fireplace connects to a Jack and Jill bathroom and could easily be converted into a fourth bedroom. The formal entry is nothing short of spectacular, where soaring cypress log pillars and a hand-painted mural make a memorable first impression. The great room features cathedral ceilings, a dramatic two-story dry-laid stone fireplace, and custom built-ins. An open-concept kitchen anchors the living space with a center island, breakfast bar, and a large butler’s pantry—equipped with two additional refrigerators and ample storage. Just off the kitchen, a sunken bar opens seamlessly to the outdoor entertainment terrace, complete with built-in grill, fire pit, and an electrical hookup for a future spa. The three-bay tandem garage is ideal for storing watercraft, ATVs, or other recreational gear. Above the garage, a versatile bunkhouse includes a full bath and kitchenette—perfect for a gym, home theater, or guest suite. Set on 1.27 acres with panoramic views of Little Lake Kerr, (the main home recently appraised in July for $1m) the estate also includes two additional parcels: A 0.17-acre lot (parcel ID 10829-001-02) with approved plans for a guest house A 0.22-acre canal-front lot (parcel ID 10753-001-53)featuring a 2012 two-bedroom, two-bath manufactured home—ready for interior updates and boathouse improvements. The boat ramp is situated next to the property on 242nd Ave. This exceptional property is a rare opportunity to own a refined lakeside retreat with room to grow, entertain, and enjoy the very best of Florida living.
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.
