Nestled on 1.3 acres with almost 200 feet of lake frontage, this impeccably maintained 4 BR 2.5 BA home on Spring Lake is not a listing you find everyday. Stepping into the home, you are greeted with incredible lake views from the open concept living area and kitchen, as well as exceptional views from the main floor master bedroom. The Master Bedroom features a large bath with walk in shower and separate jetted tub Also located on the main floor is a walk in pantry/laundry room, a formal dining room, a half bath and a screened in sun room for enjoying gorgeous sunset views! Upstairs you will find 3 additional bedrooms and a full bath. SEE MORE This home has so many extra features such as a certified storm shelter in the master bedroom, a Generac whole home generator, an on demand tankless water heater, RV hookup, an oversized two car garage with attic connected to the home by a breezeway, a whole home security system and the neighborhood even has a FLOCK camera with 24/7 monitoring! For reduced insurance and peace of mind, the metal roof is less than 3 years old. The septic system was replaced in 2025. Travel from the back deck down the very gently sloped yard to the showstopper of this property, gorgeous Spring Lake! Spring Lake Estates is a small community of homeowners who enjoy a quiet, peaceful way of life in the lakeside community built around a 150-acre private lake. Amenities include a large dock & boat launch area, pole barn & community gathering space, smaller common area dock for relaxation and two dedicated community access points.
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.
