*Offering interest rate buy-down or closing cost credit through preferred lender* Welcome to your slice of Florida paradise in the highly desirable Baywood Village community of Mount Dora. This beautifully maintained newer-construction 3-bedroom, 2-bathroom home offers the perfect combination of modern comfort, thoughtful design, and peaceful waterfront living. From the moment you arrive, you'll appreciate the pride of ownership and inviting curb appeal. Inside, the spacious and versatile floor plan is designed to fit every stage of life, whether you're a growing family, a professional working from home, multi-generational household, or someone looking for a low-maintenance lifestyle with room to entertain. The heart of the home features an open-concept layout that seamlessly connects the kitchen, dining area, and living spaces, creating an ideal setting for both everyday living and special gatherings. The well-appointed kitchen offers abundant cabinetry, modern finishes, and plenty of space for meal preparation while remaining connected to family and guests. The generous primary suite provides a relaxing retreat, complete with ample space, privacy, and a well-designed en-suite bath. Three additional bedrooms and two additional full bathrooms offer flexibility for family members, guests, home offices, hobbies, or fitness spaces. One of the standout features of this home is the tranquil pond view, providing a beautiful natural backdrop and a peaceful atmosphere to enjoy your morning coffee, unwind after a long day, or simply take in Florida's stunning sunsets. With no rear neighbors directly behind the pond, you'll enjoy an added sense of privacy and serenity. Located within a small, private community, Baywood Village offers a quiet neighborhood setting while remaining close to everything that makes Mount Dora one of Central Florida's most beloved destinations. Residents enjoy convenient access to charming downtown Mount Dora, known for its historic architecture, waterfront parks, boutique shopping, award-winning restaurants, art galleries, festivals, and year-round community events. Commuters will appreciate the easy access to major roadways, making travel to Orlando, Sanford, and surrounding areas convenient while still enjoying the relaxed pace and character that Mount Dora is known for. Outdoor enthusiasts will love the nearby lakes, nature trails, parks, boating opportunities, and recreational activities that make this area such a sought-after place to call home. Whether you're searching for your first home, your forever home, or simply a newer property with a fantastic layout in a prime Mount Dora location, this exceptional residence checks all the boxes.
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.
