Timeless Character. Modern Comfort. Unmatched Opportunity. Tucked away on a private, secluded road just moments from Lake Winnemissett, this beautifully restored 1945 historic home offers the perfect blend of classic charm and contemporary luxury. Renovated in 2020, the residence has been thoughtfully modernized while preserving the craftsmanship and character that make historic homes so special. This two-story home features 3 bedrooms upstairs, 2 full bathrooms, and an additional half bath, with flexible living spaces throughout the main level. Downstairs you’ll find a formal dining room centered around a stunning fireplace, an inviting living room, a cozy reading room, and a dedicated office that can easily function as a 4th bedroom. The kitchen is truly the heart of the home, designed for both everyday living and entertaining. It showcases quartz countertops, matte slate GE appliances, and a striking granite waterfall island with ample space to cook, gather, and dine. Tall ceilings, refinished original hardwood floors, and beautiful historic woodwork add warmth and elegance throughout. Situated on an almost ¾-acre lot, the expansive backyard offers endless possibilities with an existing deck and patio—plus plenty of room to expand or add a pool. A separate second structure on the property provides a rare bonus: easily finish it as a multigenerational living space, guest house, or income-producing opportunity, completely independent from the main home. Enjoy the serenity of a private setting while staying conveniently close to it all—easy access to I-4 puts the beach under 30 minutes away and Orlando just 30 minutes in the other direction. Historic Downtown DeLand, shopping, dining, and local attractions are all nearby. This is more than a home—it’s a lifestyle offering more house, more land, and built-in flexibility, all in one of DeLand’s most desirable and character-rich locations.
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.
