Opportunities like this do not come around often. Built by renowned custom builder Hannah Bartoletta Homes, this one owner lakefront estate sits on an oversized .54 acre lot in the gated Waters Edge section and is one of the very few homes in the entire community positioned directly on Bay Lake. With nearly 4,000 square feet of living space, this residence offers 5 bedrooms, 3.5 baths, formal living room, expansive family room, breakfast nook, and a large bonus or game room. The layout was designed for both entertaining and everyday comfort, with generous room sizes, high ceilings, and natural light throughout. Step outside to a screened pool and spa overlooking the lake and conservation backdrop. The setting delivers privacy, open water views, and access to one of the most peaceful lakes in the area where motorboats are not permitted. For those wanting even more connection to the water, the new owner has the option to build a private dock. The home is also located adjacent to the Waters Edge park and community dock extending onto the lake. This property presents a rare opportunity to own a true lakefront estate in a gated enclave and personalize it to your taste. The pool and spa are ready for refinishing, offering the next owner the chance to modernize and elevate the outdoor space to match their vision. Lakefront properties in Waters Edge are extremely limited. When they come available, they do not last. If you have been waiting for a statement property on Bay Lake, this is your chance.
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.
