Welcome to this beautifully maintained single-story home situated on an oversized 0.43-acre lot in a quiet, established Lakeland neighborhood with no HOA, offering the freedom, flexibility, and space today’s buyers are searching for. Boasting 1,934 square feet of living space and 2,475 total square feet under roof, this 3-bedroom home with a bonus room or office features a desirable split floor plan and a side-entry two-car garage for added curb appeal and functionality. Built in 1992 and thoughtfully updated, this home is move-in ready. Step inside to find newer luxury vinyl flooring flowing throughout the main living areas including the entry, foyer, dining room, living room, and hallways. The home is light, bright, and designed for comfortable everyday living as well as entertaining. The spacious kitchen offers solid wood cabinetry, ample counter space, a large oversized sink, and black appliances including a range, with a newer microwave and refrigerator approximately one year old with French doors and bottom freezer. Enjoy flexible dining options with both a breakfast nook and formal dining space. A versatile bonus room with ceramic tile flooring provides the perfect space for a home office, playroom, or additional living area. The primary suite is generously sized and features dual walk-in closets, dual vanities, and a large walk-in shower, along with a barn door entry leading into the bathroom and closet space. Secondary bedrooms are well-sized, with built-in storage and consistent vinyl flooring for a cohesive look. Additionally, new AC installed December 2024, Water Heater installed 2024 . This home features indoor laundry room with washer and dryer included, tile flooring in wet areas, ample storage throughout the home, private septic with public water, and a safe that conveys with the property. The expansive backyard with a fully fenced yard, offers endless possibilities for entertaining, storing boats or RVs, adding a pool, or simply enjoying the privacy of a larger homesite. With no HOA and no rental restrictions, this property provides exceptional flexibility for a primary residence, second home, or investment opportunity, including potential for short-term or long-term rental income. Conveniently located near shopping, dining, parks, and everyday amenities with easy access to major roadways, and zoned for Polk County schools. This home is ideal for buyers seeking space, flexibility, and convenience in a well-established location.
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.
