Welcome to this beautifully maintained Garden Home located in the desirable 55+ section of Sullivan Ranch—offering the same low-maintenance lifestyle and amenities as the Villas, with the added benefit of a fully detached single-family home. This thoughtfully designed residence features no rear neighbors, providing added privacy and peaceful views. From the moment you arrive, you’ll appreciate the extended covered front porch and elegant leaded glass entry door, setting the tone for what awaits inside. Step into a bright, open floor plan enhanced by 9’4” ceilings, abundant natural light, and wall-to-wall carpeting. Neutral tile flooring flows seamlessly through the foyer, kitchen, and bathrooms, creating a clean and cohesive look. The spacious kitchen is both functional and inviting, featuring well-maintained appliance suite including a microwave and garbage disposal, upgraded solid wood pantry shelving, and convenient pull-out drawers in the lower cabinets. With ample room for an additional dining area, island, or extra cabinetry, this kitchen easily adapts to your lifestyle. It opens directly to a screened-in lanai—perfect for morning coffee, casual dining, or simply enjoying the natural surroundings. Both bathrooms have been updated with Moen faucets and comfort-height toilets. The primary suite offers dual sinks and a walk-in shower, while the secondary bath includes a traditional tub. Additional upgrades include NEW ROOF 2025, newer ceiling fans and lighting fixtures, recently replaced fire and carbon monoxide detectors, updated A/C coils and thermostat, and an upgraded electrical panel ready for generator installation. The garage has been enhanced with a retractable screen, creating a versatile space ideal for entertaining, hobbies, or additional relaxation. This home is truly turn-key and has been meticulously maintained by its original owner. Residents enjoy close proximity to the community clubhouse, featuring on-site management, a junior Olympic pool, and a fully equipped fitness center, along with options for private and community events. The HOA provides exceptional value, covering roof repair and replacement, exterior painting, irrigation, lawn maintenance, and landscaping—allowing for effortless living. Beyond the home, Sullivan Ranch offers an impressive array of amenities including a gated entrance, dog park, playground with water feature, scenic walking trails, sidewalks, street lighting, and picturesque lake views connected by charming wooden bridges. Ideally located just minutes from the 429 beltway and only a short drive to historic downtown Mount Dora, this home provides convenient access to shopping, dining, and all that Central Florida has to offer.
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.
