Welcome home to 1923 Red Loop, a stunning, nearly-new residence built in 2024 that perfectly blends modern comfort with peaceful waterfront living. Located in the desirable Saddle Creek Preserve community of Lakeland, this 4-bedroom home offers 1,936 square feet of meticulously upgraded living space designed for comfort and style. As you arrive, you’ll notice the freshly RE-SODDED FRONT YARD and a 2-car garage enhanced with a CAMERA KEYPAD and specialized outdoor lighting. Step through the front door, secured by a 2026 smart lock, and into an inviting open-concept interior featuring durable tile flooring with professionally stained grout completed in 2025. The gourmet kitchen is a true showstopper, featuring extensive 2025 upgrades: Subway tile backsplash paired with sleek all-black sink and cabinet hardware, halo lighting, and an accent light fixture; Modern water fixtures and a high-quality, RO FILTRATION system right at the sink. This space flows seamlessly into the dining room, where you can set the perfect mood with dimming lights and a farmhouse-style light fixture. Throughout the home, upgraded light fixtures and dimmers allow you to customize the ambiance of every room. The master suite serves as a private retreat, featuring a master bathroom upgraded in 2025 with mood lighting above the shower, black grout for a modern look, and new light fixtures above the mirrors. The additional bathrooms have also been refreshed with upgraded water and light fixtures. For peace of mind, the home is equipped with a comprehensive security system, including door and window alarm sensors and a monitored fire sensor. The true "favorite spot" of this home is the expansive outdoor living area, featuring a fully enclosed, screened patio area featuring ceiling fans and lights—the perfect quiet spot to gather with friends or enjoy some peace and quiet with a water view. Beyond the enclosure, you’ll find an additional paved area with a dedicated concrete BBQ slab, and a PVC privacy fence enclosing the yard. The property faces the water, where catch-and-release fishing is allowed right in your own backyard. Around the side, out of view of the backyard, is a concrete slab that holds a newly-installed shed for all your storage needs. Also included is a desirable new WATER SOFTENER system, located inside the garage to avoid weathering. Living in Saddle Creek Preserve means access to a community pool, dog park, walking paths, and hiking trails, all for a very low HOA fee of $225 annually. You are within walking distance of the local high school and minutes from shopping and major highways, providing easy access to both Tampa and Orlando. Only 15 minute drive away is downtown Lakeland, which hosts a farmer's market every weekend and features beautiful water views, delicious foodie offerings, and local charm. This move-in-ready home is still under warranty for major appliances, offering the security of a new build with the custom upgrades of a forever 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.
