This luxury estate in North Lakeland, Central Florida sits on 1.95 acres on a quiet, private drive with only seven homes. The property is zoned for horses and approved for a home-based business. The home welcomes you with 8-foot French doors opening to a grand foyer and soaring 25-foot ceilings in the main living area. Enormous windows flood the open floor plan with natural light. Architectural details include arches, columns, and a stone half wall separating the foyer from the living area. The living room features vaulted and cathedral ceilings, double doors to the backyard, and a gas fireplace with a stylish two-tone gray brick/tile surround that perfectly complements the gray tile floors. The remodeled kitchen features quartz countertops, solid wood cabinetry including glass-front cabinets, and a tiled backsplash that matches the fireplace, creating a cohesive design. Additional highlights include a dry bar with built-ins and microwave, and a kitchen island with a sink and extra cabinetry. The stainless steel appliances include a double oven, dishwasher, and large refrigerator. An attached eating area with a chandelier, large windows, and sliding doors to the backyard creates a bright, airy space. The first floor also offers a formal dining room, a convenient half bath, and an office/den with abundant windows and a closet that could also serve as an extra bedroom. In addition, there is a separate laundry room with ample cabinetry, countertops, and a utility sink, with a door leading to the garage, and a dual laundry chute connecting the upstairs bedrooms directly to the laundry room. The primary suite on the first floor boasts a walk-in closet and an ensuite bathroom with dual sinks, garden tub, separate walk-in shower, and built-in shelving. Upstairs, a spiral staircase leads to a balcony overlooking the main living space. Additional bedrooms are connected by a Jack and Jill bathroom with enormous walk-in closet, and there is a huge bonus room. Ceiling fans are installed throughout the home, and window treatments along with hurricane/impact-resistant Andersen windows provide both elegance and protection. Outdoor living is enhanced by two covered porches, a side patio, a partially fenced backyard, a 50-amp RV hook-up, a utility shed with electricity, an oversized garage, an irrigation system, professionally landscaped grounds, and a new well installed in 2025. Additional features include electronic blinds, Ring security cameras, a newer roof (2021), three A/C units (2022), upgraded attic insulation (2023), and a 74-gallon propane water heater. Ideally located minutes from Publix, shopping, and dining, and right off Kathleen Rd with easy access to I-4, Tampa, Orlando, and 570, this property offers the perfect blend of rural tranquility and city convenience. Please note the following items will not convey with the sale: fountains, garage rack system, mounted TVs, gray shed in the backyard (not attached), countertop microwave, front porch swing, and hanging plant baskets and staghorns. Additional note: Seller is willing to remove the dog pen in the front yard prior to closing if the buyer does not want it.
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.
