PRIVATE LAKEFRONT RETREAT--Showings on this stunner start Wednesday, May 6! Situated on a spectacular .87-acre lakefront lot, this one-of-a-kind property offers an extraordinary lifestyle on a privately owned lake shared by just 11 homeowners—an incredibly rare and coveted setting. See Survey where the lot extends all the way across the lake to the chain link fence. From the moment you arrive, the exceptional curb appeal is undeniable, with the gorgeous specimen plantings and mature trees highlighted by a beautifully patterned concrete driveway and a welcoming front porch. Step inside to a stunning foyer featuring rich hardwood flooring, a soaring vaulted and beamed ceiling in the living room, built in cabinets on the side wall and stunning light fixtures perfectly accented by a soothing, designer-inspired color palette. The dining room showcases panoramic lake views, creating the perfect backdrop for everyday living or special gatherings. Be sure to stop for a moment to take in the glorious lake views! The expanded gourmet kitchen is truly a showstopper, boasting porcelain tile flooring, abundant cabinetry with custom doors, a large pantry, Corian countertops, stainless farm sink and an impressive oversized island. Stainless steel appliances include an induction cooktop, double ovens, microwave, dishwasher, and refrigerator - WOW - this is truly a gourmet kitchen! Walls of windows frame breathtaking water views, making meal prep and entertaining an absolute joy—just imagine the sunsets! A convenient pocket door leads directly to the garage complete with electric garage door opener - so convenient for bringing in groceries! Just a few steps up from the foyer is the bedroom wing, where the serene primary suite overlooks the lake. The updated (2018) primary bath features a bubbling tub with heat settings, heat lamp, and a spacious, custom-outfitted closet accessed through a stylish barn door. Two additional generously sized bedrooms offer hardwood flooring, window shades, and ample closet space. A few steps down from the foyer leads to the inviting family room, complete with luxury vinyl flooring, a side entrance, and smart home features including voice-activated lighting and electric blinds. The full laundry room is thoughtfully designed with Samsung washer and dryer (gas), a laundry tub, built-in folding table, ironing board, and access to the backyard. A full bath and additional storage complete this level. Be sure to take in the rear grounds and lake - here in the back, there is a patio complete with fire pit and a dock with a sandy beach - just imagine relaxing lakeside, swimming (the lake is approx. 5' deep), fishing, kayaking, paddleboarding - there's nothing like lakefront living! This home is loaded with premium amenities including geothermal heating and air conditioning, smart thermostats, smart light switches, a pellet stove, and a lake aeration system powered by a windmill to maintain lakebed quality. Meticulously updated and upgraded throughout, this exceptional property offers luxury, privacy, and natural beauty—truly a rare opportunity to own a private lakefront retreat unlike any other. This is such a special home!
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.
