NEW ROOF October 2024! Discover refined living in one of Oviedo’s most coveted and tightly knit enclaves—The Preserve at Lake Charm, an intimate and beautifully manicured community celebrated for its tranquility, charm, and unmatched convenience. Nestled along picturesque Old Alemany Place, this quick move-in home blends sophistication with serenity, offering a rare opportunity to own a residence where timeless design meets modern comfort on a corner lot! From the moment you arrive, stately architectural details set the tone for the elegance within. Step through the front door to a thoughtfully crafted, open-concept floor plan designed and built by Ryan Homes, The Cypress Garden floorpan. Key features to note: Tray ceilings, graceful 8-foot archways, natural light. This home and its design do not disappoint. At the heart of the home lies a chef-inspired gourmet kitchen, complete with premium stainless-steel appliances, custom cabinetry, and a ton of room! Whether hosting a lively gathering or enjoying a quiet evening in, this culinary space delivers both style and functionality. The extended primary suite is a true retreat—an elegant sanctuary offering a spa-like en-suite bath with a deep soaking tub, expansive separate shower, and a meticulously designed custom walk-in closet. Additional bedrooms and flexible-use spaces provide comfort and versatility for family, guests, work, or play. Beyond its stunning interior, the home enjoys an enviable location just moments from SR 434 and 417, offering seamless commutes to UCF, Oviedo on the Park, Winter Springs Town Center, and an array of premium shopping and dining. Only a small collection of homes, The Preserve at Lake Charm offers a peaceful and private atmosphere. 339 Old Alemany Place invites you to experience the perfect balance of luxury, comfort, and community. Move-in ready and meticulously designed, this residence stands as a testament to craftsmanship and the extraordinary lifestyle awaiting you in one of Oviedo’s most desirable neighborhoods. Don’t miss your chance to call this exceptional home your own.
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.
