Welcome to this spacious, light-filled home located in the exclusive gated community of The Estates at Lake Pickett. Situated on a private, fenced .57-acre lot with tranquil pond views, this property offers both comfort and lifestyle in one of East Orlando’s most desirable areas. Residents enjoy access to a private community boat ramp on Lake Pickett, where waterskiing, fishing, and other water activities are allowed. Inside, the open floor plan is designed for both everyday living and entertaining. The gourmet kitchen features bright quartz countertops, an oversized island, abundant cabinetry, and a large walk-in pantry. A vented range hood system exhausts directly outdoors, helping keep the home fresh while cooking. The first floor also includes a dedicated office that can easily be converted into a fifth bedroom, along with a functional mudroom complete with built-in storage and seating. Upstairs, a striking wrought iron staircase leads to a spacious loft and well-appointed bedrooms. The primary suite offers a generous walk-in closet and a luxurious bathroom with a glass-enclosed shower, garden tub, and extended double vanity with quartz countertops. Additional features include ample storage throughout and a convenient upstairs laundry chute leading directly to the first-floor laundry room. Step outside to your private backyard retreat, featuring a beautifully finished travertine patio and a heated saltwater pool with chiller—perfect for enjoying Florida living year-round. Additional highlights include a 3-car garage and recently updated AC coils with corrosion-resistant treatment for added peace of mind. Ideally located near Waterford Lakes Town Center, Oviedo on the Park, Oviedo Mall, and with easy access to SR 408 and SR 417, this home offers a seamless commute to Downtown Orlando and Lake Nona’s Medical City.
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.
