Ask about a lender provided RATE BUY-DOWN CREDIT on this home // Seller may consider buyer concessions if made in an offer // LARGE LOT | SOLAR PANELS | UPDATED KITCHEN | SPLIT BEDROOMS | TILE FLOORS & NO HOA! ***Welcome to Lake Sparling Heights, where solid block construction, no HOA, and a great Orlando location come together to offer an ideal starter home or investment opportunity. Sitting on a generous .22 ACRE - FENCED LOT, this single-story home delivers easy living with TILE FLOORS THROUGHOUT, versatile living spaces, and a spacious backyard perfect for play, pets, gardening, or future outdoor projects. The interior layout is designed for flexibility, where you will find both a comfortable living room up front and a large family room anchored by a WOOD BURNING FIREPLACE – the kind of room that instantly feels like home. A pass-through from the kitchen keeps everything connected, creating great flow between the living areas and the dining space at the center of the home. The UPDATED KITCHEN features shaker-style cabinetry, sleek countertops, modern hardware, and all the clean lines today’s buyers love! The SPLIT BEDROOM LAYOUT gives the PRIMARY SUITE added privacy, while modern fixtures, updated fans, and great natural light add to the inviting feel throughout the home. If you work from home - or want a creative space - the garage is currently being used as a barbershop/workshop, offering endless possibilities for hairstylists, hobbyists, or anyone needing a dedicated workspace. And thanks to the SOLAR PANELS, your energy costs stay low month after month. Outside, the large fenced backyard gives you room to breathe and enjoy Florida living, and with no HOA, you will have the freedom to personalize your space without restriction. Located just minutes from Downtown Orlando, College Park, major roadways, area attractions, and world famous theme parks, this home keeps you close to everything. ***Owner is motivated, making this an opportunity you don’t want to miss! A great price, great layout, and a great central location - schedule a tour today and come see for yourself why this Lake Sparling Heights home checks all the boxes!
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.
