A beautiful custom home located on a half acre with endless lake views from front and back! This model features THREE bedrooms, all with their own private bathroom and walk in closet, a den and an amazing huge great room with disappearing doors that open out to the extensive patio. The kitchen is a dream - a ten foot quartz covered island open to the great room and dining area. White shaker cabinets, large walk in pantry and stainless steel appliances. There is tons of wall space for art and large furniture and a tray ceiling. The master bedroom is split with sliders to the outdoor area and a spa like master bathroom with dual entry shower, garden tub and dual vanities. Master closet is very large and also features a second closet. The additional bedrooms are each in their own wing of the home and offer beautiful upgraded tile, walk in showers and large closets. The outside is simply fantastic - endless western views with full sunset views, and out of the front you have a view of the large lake with the fountain! The pool area features three distinct living areas - all under patio cover and picture window screens to showcase the views. There is an outdoor kitchen area with built in grill, fridge and sink and a large granite island - the PERFECT place to hang out and enjoy Florida's gorgeous weather. There is a sparkling pool with a sunning ledge. All of this located in beautiful Kismet Lakes, a community of 27 homes with underground utilities, fiber optic cable, streetlights and two gorgeous lakes. Kismet Lakes is also a gated community with HOA fees of only $200 per month and is exempt from utility expansion. This home shows better than new, has never flooded and has assumable flood insurance.
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.
