This exceptional home exudes quality and will allow you the luxury of moving right in and enjoying the rich, resort lifestyle The Lakes affords! Unlike a new home that provides a blank palette to fill, this home has countless upgrades with the finest of materials and workmanship. No expense was spared in the thoughtfully planned yard, from the System Pavers walkway, colored concrete and faux lawn with mature plants in front to the brand NEW insulated 37 x 16 covered outdoor living, complete with custom lighting and ceiling fans, & 35 x 20 grass sod in back, this is your dream home! Garden to your heart's content in the stone-lined raised planter beds, you will fall in love with this abundantly well thought out living space, inside and out! SOLAR, a 3-car garage, great room, fireplace, a cul-de-sac location and a full bed and bath downstairs are some of the most enjoyable features. Lovingly cared for, fresh interiors, rich crown molding and baseboards have been added throughout the downstairs to enhance your space. Custom drapes and sliding glass door blinds, new lighting & plumbing fixtures and ceilings fans are newly installed as well as new indirect lighting, cafe lights that grace your expansive kitchen with plenty of room at the bar and tons of prep space for making family meals and entertaining! The gate-guarded community is rich with amenities as well as warm, inviting neighbors and plenty of activities including fishing in two lakes, sun-bathing or swimming at the pool, enjoying the water park, walking trails, a clubhouse, pools, fitness center, and parks. This is an opportunity to own a home where the big-ticket upgrades are already complete and the lifestyle is amazing! So much to love, not to be missed.
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.
