WATERFRONT HOME in the Upper East Side of Orlando! This beautifully maintained 3-bedroom + OFFICE home offers easy SINGLE LEVEL living with an OPEN floor plan. Watch rocket launches from your backyard! From the moment you arrive, the professionally landscaped exterior sets the tone. Step inside to find a private office to the left and a formal dining or flexible living space to the right—perfect for entertaining or working from home. The kitchen truly serves as the heart of the home, featuring 42-inch cabinets, a SPACIOUS CENTER ISLAND with abundant storage, and BAR TOP SEATING. There’s also plenty of room to add a dining table for a comfortable eat-in kitchen setup. The living room opens seamlessly to a covered lanai overlooking a FENCED IN BACKYARD—ideal for gardening, outdoor play, or simply relaxing and check out those WATER VIEWS! The owner’s suite is a private retreat with elegant double-door entry to an en-suite bathroom featuring dual sinks, a separate water closet, GARDEN TUB, walk in shower and a spacious walk-in closet. On the opposite side of the home, two generously sized guest bedrooms share a full bathroom, offering privacy for family or visitors. Residents enjoy incredible COMMUNITY AMENITIES including a resort-style pool with water slides, lap lanes, and splash features, tennis and pickleball courts, a clubhouse with billiards and game room, fitness center, basketball courts, two playgrounds, and a dog park. Centrally located with easy access to SR 408 and SR 417, this home is close to UCF, Research Parkway, and Lockheed, and just a short drive to the Space Coast. 2 miles to the new Orlando Agrihood THE GROW. Publix is only 4 minutes away, with Waterford Lakes Town Center and Oviedo on the Park nearby for shopping and dining. Be sure to watch both video walkthroughs of the home and the community!
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.
