If you’ve been looking for a place where you can actually breathe and stretch out, 334 Spring Lake Rd is the one. Sitting on over 2 sprawling acres in Millstadt’s quiet Buffwood Subdivision, this home feels like a private retreat from the moment you pull up. Between the massive front and back lawns and your own private dock with lake privileges, it’s the kind of setting that makes every weekend feel like a getaway. Walking through the front door, you’re greeted by a grand two-story foyer and a stunning staircase with double access points—it’s not just beautiful, it makes the whole house flow perfectly. If you work from home, you’ll love the classic pocket doors that lead to a quiet office. Just past those, another set of elegant pocket doors opens into a cozy living room, complete with a wood-burning fireplace and gorgeous wood-framed windows that keep everything feeling warm and inviting. The kitchen is the heart of the home, featuring solid surface countertops and custom cabinetry, but the dedicated breakfast nook might be your favorite spot. It’s bright, cheery, and has a French door that leads right out to the expansive patio. Whether you’re hosting a BBQ, relaxing in the hot tub, or hanging out by the fire pit, the indoor-outdoor flow here is just effortless. The second floor is all about comfort and convenience. The primary suite is a total haven with its own electric fireplace and a spa-like bath featuring a deep soaking tub and separate shower. Every bedroom up here has its own walk-in closet, and having the laundry room on the same level is a total game-changer. Plus, the second floor has its own dedicated hot water heater and zoned HVAC, so everyone stays perfectly comfortable. Downstairs, you’ve got a full basement that’s a total blank canvas—it’s a massive, untapped space featuring a full bath, just waiting for your dream gym or theater room. And for the hobbyist or car enthusiast? While there’s an oversized attached garage, the real star is the 30x40 detached garage. With 11ft ceilings, room for four more vehicles, and plumbing already roughed-in for a 3/4 bath, the possibilities are endless (sold as-is). Located just 25 minutes from St. Louis, this property is the ultimate "best of both worlds" find. It offers a rare opportunity to trade the city’s cramped quarters for over 2 sprawling acres of peace, without sacrificing a manageable commute. You can spend your workday in the city and be back on your private dock or tinkering in your workshop before the sun sets. This is more than just a home; it’s the room to roam you’ve been looking for, with all the urban convenience you still need. Note: Virtually enhanced photos are included to help you visualize this property’s incredible, easily attainable potential.
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.
