*Charming, Rustic, and Timeless Farmhouse Custom Home* This beautifully updated 1,854 sq ft single-family residence offers 3 bedrooms and 2 newly renovated bathrooms on an oversized 0.41-acre corner lot, shaded by gorgeous draping oak trees for ultimate privacy and curb appeal. Step inside to a traditional elegant sunken living room featuring rich wood laminate floors, adding depth and character, and a stunning stone fireplace as the cozy centerpiece—perfect for family gatherings and creating lasting memories. The well-appointed kitchen shines with granite countertops, modern stainless-steel appliances, and seamless flow into a charming dining area with classic farmhouse window nook seating. Adjacent, an elevated family/study/den provides flexible room for whatever your lifestyle demands. Just off the kitchen, enjoy an elegant coffee/wine bar—ideal for morning brews, evening pours, or entertaining with style and convenience. The inviting master suite surrounding in stunning shiplap boasts a generous walk-in closet and a newly renovated full bathroom featuring a warm butcher block make up vanity that blends rustic charm with modern elegance, along with high-end finishes for ultimate comfort and convenience. Two additional bedrooms share a recently renovated full spare bathroom, complete with a luxurious shower/tub combo enclosed by a sleek glass door for a bright, open, and sophisticated feel. An indoor laundry room adds everyday practicality. Outside, the fully fenced oversized lot is an entertainer's dream with amenities galore: relax on the back deck, unwind in the private hot tub, practice your short game on the putting green, or enjoy the paver patio (currently used as a basketball court), mulched playground area, firepit area and storage shed. Parking comes easy with the circular driveway, side 2 car garage w/extended additional driveway providing plenty of room for guests, an RV, boat or golf cart—plus a built-in 30A/50A electric car charger/RV plug in. Nestled in the golf cart friendly, established Silver Lake community with **No HOA**, Silver Lake being a perfect "5k" around for walking/running/biking with nearby dog park, tennis courts, racket ball, walking path and frisbee golf for use at Lake Sumter State College. This home offers all the amenities without all the cost giving you more freedom and flexibility. It's centrally located near restaurants, hospitals, and major roadways for effortless commutes to Orlando or Ocala metro areas. Don't miss this rare opportunity to own a timeless farmhouse that masterfully blends rustic charm with modern upgrades—built to stand the test of time. Schedule your private tour today! BRAND NEW ROOF OFFERED prior to closing!
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.
