Move-in ready spacious 2 bedroom 2 bathroom condo located in the highly desirable community of Flagship Park! Step inside to newer luxury vinyl plank flooring gracefully flowing through all living spaces and bedrooms! The chef inspired kitchen features 42inch wood cabinetry, a large pantry with plenty of storage, stainless steel appliances, including a newer dishwasher (2024) and a beautiful breakfast bar that opens perfectly into the living and dining areas, creating an ideal space for entertaining friends and family. NEWER HVAC (2023) and ROOF (2022)! The bright and open living room stands out with high ceilings and natural light from two sliding glass doors, each featuring Juliet-style balconies that bring the outdoors in. The split floor plan provides the perfect balance of comfort and privacy, with bedrooms located on opposite sides of the home. The primary suite is sure to impress with plenty of natural light, an upgraded ceiling fan with light, and an oversized walk-in closet. The en suite features dual sinks and a spacious shower/tub combination. The secondary bedroom is a bright welcoming space, great size and also features an upgraded ceiling fan with light, making it perfect for guests, a home office, or additional living space. The inside laundry room adds extra convenience, and the washer and dryer are included! The thoughtful layout and low-maintenance lifestyle makes this home an excellent fit for first-time buyers, busy professionals, or anyone looking to enjoy all that Lake Mary and Sanford have to offer. Oh, and did I mention the one-car garage? Perfect for parking, storage, or all of your extra tools, containers, and equipment! Flagship Park is a beautifully maintained community located right off Rinehart Road, putting you in the heart of everything Lake Mary/Sanford has to offer. The HOA FEES INCLUDE: CABLE, INTERNET, WATER, ROOF, POOL AND ROAD MAINTENANCE, LANDSCAPING, POWERWASHING, and WASTE MANAGEMENT! Come see this home before it is too late!! The location truly cannot be beaten, only minutes from 417, I-4, Colonial Town Park, and Historic Downtown Sanford. Spend your weekends exploring local restaurants and shops, relaxing by the community pool, heading to the beaches, or enjoying the world-famous theme parks, all within easy reach. Schedule your exclusive tour, TODAY!
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.
