Live life on the lake; your very own lake, found within this incredible Lake Milton estate! With its truly expansive footprint and a must-see home filled with custom touches throughout its two floors of finished living space, this residence has everything you’ve been dreaming of and more! Want more space? Done. Find an oversized two-plus car attached garage with a mobility friendly ramp, plus a massive outbuilding with extended height entry doors, room for all of your needs and including a pass-through rear entryway. Privacy? The home sits far off the road in the center of a tree lined clearing that continues to include the private water feature. If the backyard isn’t enough, the gorgeous beaches and exciting dock spaces of Lake Milton are just seconds away, keeping you on the water. Take it all in from the covered rear patio, overlooking a fenced-in yard space for pets. Meanwhile, a covered porch leads you inside, just past the wraparound driveway. The decorative door reveals an open central layout with tall ceilings and plenty of natural light from the tall, nearby windows. Dark hardwood flooring runs underfoot as decorative lighting fixtures help illuminate the foyer, eat-in dining space and elaborate kitchen island with its stone countertops, profound stainless range, and elegant tile work. At the far side of the room, custom arch topped doors swing away to find a charm packed full bath and a pair of daring guest bedrooms. At the opposite end, the master suite enjoys its own full private bath with a must-see shower, first floor laundry services and garage access. Down below, a full living suite brings a complete kitchen, guest bedroom and breathtaking full bath. Additional storage and shop space round things out. Call today to make this your new home
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.
