Rare Lakefront Estate Opportunity! A truly once-in-a-lifetime chance to own a custom 4-bedroom lakefront Tudor with in-ground pool set on over an acre at the end of a quiet cul-de-sac, offering exceptional privacy. A long, winding driveway sets the home far back from the road, creating a peaceful, estate-like retreat. Located on private Deer Trail Lake with approx only 10 other lakefront homes as members and just minutes to Route 23, and a direct NYC bus stop. Stockholm is the first town in Sussex County from Route 23 north! The heart of the home is the expansive custom kitchen, featuring vaulted ceilings, granite countertops, limestone floors and door to large enclosed porch. The main level also offers a gracious living room with granite wood-burning fireplace, dining room, welcoming foyer, and sunroom.The upper level features a spacious primary suite with deck overlooking the lake, three additional bedrooms, renovated full bath and a second unfinished full bathroom designed to replace current (not in use) primary bathroom.The ground level includes a family room, full bath, laundry room, and garage access. A unfinished basement with a workshop room is accessible through the two-car garage. Home has a Koi pond too! Estate Sale-property being sold as is. Pool as is-used last year. Some tlc required-priced accordingly. This is an exceptional opportunity for buyers seeking lakefront living, privacy, and the chance to add significant more equity in a premier setting.
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.
