Have you always wanted a charming house with a white picket fence accompanied by beautiful landscaping? Welcome to this wonderful family home in one of Orlando’s most coveted neighborhoods. You’ll appreciate the nuances of a newer home built in 2020 yet blending seamlessly with the character of the surrounding neighbors. This is a spacious open three-way floorplan with a second ensuite bedroom in addition to the primary. Enter through the attractive front doorway into the large living room. French doors lead to two bedrooms with closet systems and a shared bath. Follow through to the dining room, which is large enough for a table for ten enroute to the junior suite with its own private bath and a walk-in closet. The open kitchen has an 11ft breakfast bar in addition to a massive cooking island, wine refrigerator, plenty of marble counter space and great natural light. Finally, the fantastic oversized primary suite: a huge closet with built-ins, a spacious bath with dual sinks, a soaking tub and separate step-in rain shower. Outside through the sliding doors in the kitchen is an attractive pergola with pavers, which can be covered by the attached sunshades. The yard is surrounded by privacy fencing and is large enough for a future pool if desired. Other notable features include an indoor laundry room with cabinets, a pantry, new roof installed in 2024, crown moulding throughout, wainscotting in the kitchen and dining room, bamboo flooring throughout main living areas with tile in the kitchen and baths, granite bathroom counter tops, attractive pavered driveway, extra storage room in the rare 2 car garage, outfitted with Level 2 EV charging and a 50-gallon water heater. This home is located just across the road from a neighborhood open lot where you can enjoy occasional get-togethers with your fellow Colonialtown North community; one where the neighbors also decorate the local round-about during the holidays and even have a tree lighting ceremony. Does this sound like a Hallmark movie? The neighborhood sidewalks are canopied by beautiful oak trees to enjoy your morning and evening strolls. Just minutes from Downtown, Mills 50, Milk District, Baldwin Park, Audubon Park K-8, and about 20-30 minutes to Orlando International Airport and the theme parks. Come make it your own before someone else does! More pictures to follow soon.
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.
