Welcome to Waterview — a hidden gem in the heart of South Lakeland! Ideally located just minutes from shopping, dining, medical facilities (including the new Orlando Health Hospital just across the street), and the Polk Parkway, this community offers both convenience and a relaxed waterfront lifestyle. This 3-bedroom, 2-bath home with a 2-car garage is situated in a quiet, established neighborhood and offers comfortable living with thoughtful architectural details throughout. Inside, you'll find soaring vaulted ceilings accented by architectural display ledges that add character and visual interest to the living space. The kitchen features a breakfast bar and cozy dining nook, while the open living and dining areas provide plenty of room for relaxing or entertaining. The three well-sized bedrooms offer flexibility for family, guests, or a home office, and the home also includes a convenient inside laundry room. A brand-new refrigerator, dishwasher, range, and range hood were all replaced last year, adding value and peace of mind. Even better — the seller will be installing a brand-new roof prior to closing.For just $111 per month, the HOA provides lawn maintenance along with access to fantastic community amenities including a pool, clubhouse, tennis courts, pickleball, basketball, and a fishing pier overlooking the water. With its prime South Lakeland location, low-maintenance lifestyle, community amenities, and upcoming new roof, this home offers a wonderful opportunity to enjoy comfortable Florida living. Schedule your showing today! THE SELLER WILL BE INSTALLING A BRAND-NEW ROOF PRIOR TO CLOSING.
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.
