NO HOA with room to park your boat/RV! Welcome to a home that effortlessly combines style, functionality, and Florida charm. With great curb appeal and an extended driveway perfect for your boat, RV, or extra vehicles, this property is as practical as it is inviting. Step inside to an open, airy floorplan featuring a bright great room with cathedral ceilings and ceramic wood-look tile flooring that blends elegance with durability. The living space flows seamlessly to a large breakfast nook, and French doors lead to an expansive backyard patio, creating the perfect indoor-outdoor connection. The kitchen is a showstopper, fully updated with custom cabinetry with crown molding and soft-close drawers, a stacked stone backsplash, quartz countertops, stainless steel appliances, and a custom pantry. A convenient laundry room sits just off the kitchen for everyday ease. The bedrooms are thoughtfully separated for privacy. The master suite, sitting to the left of the kitchen, boasts a spacious layout, a luxurious master bath with a huge walk-in closet, dual vanities, and an expansive walk-in shower with custom tile. On the opposite side, two additional bedrooms share a stunning guest bathroom with a modern vanity, and custom tiled shower. Bedroom 2 has been completely redone with fresh carpet, paint, and an upgraded ceiling fan. Step outside to the 31x10 open patio, ideal for entertaining friends and family within the privacy of the newly installed fence. A handy storage shed keeps all your lawn and outdoor equipment organized, with an additional secondary storage shed on the right side of the home. Meticulously maintained and conveniently located near schools, Lake-Sumter Community College, and Lake Square Mall, this home truly has it all. Schedule your private tour today and experience the perfect blend of comfort, style, and spacious tranquil living!
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.
