Ask about a lender provided RATE BUY-DOWN CREDIT on this home! ***Seller may consider buyer concessions if made in an offer*** NEW ROOF | UPDATED PLUMBING | OPEN CONCEPT LIVING/DINING | SPLIT BEDROOMS | .23 ACRE LOT | VOLUNTARY HOA! Welcome to this beautifully updated single-story 3-bedroom, 2-bath + 2 BONUS home in Orlando’s Watermill community – delivering modern comfort, flexible living spaces and a location that’s hard to beat. Important updates are already taken care of, including a NEW ROOF (2024), UPDATED PLUMBING (2022), and REMODELED BATHROOMS. Inside, you will appreciate the clean, cohesive look of new WOOD LAMINATE FLOORING throughout, with tile in the kitchen, and updated bathrooms that add a fresh, contemporary touch. This home’s layout is light, bright and functional, with large windows and sliding doors that fill the space with natural light. The OPEN LIVING & DINING area sits under a VAULTED CEILING, creating an airy feel, while the SPLIT BEDROOM design offers privacy for everyone. The spacious kitchen includes a breakfast nook and plenty of room to cook and gather. A noteworthy feature of this property is the converted garage, which now offers TWO BONUS ROOMS – ideal for a home office, media room, guest space or creative studio. If you prefer a traditional garage, it can easily be converted back. You will also love the large utility/laundry room, currently doubling as a small gym, adding even more flexibility to the home. Set on a generous .23 acre FULLY FENCED lot, there is plenty of outdoor space to enjoy. Relax on the COVERED FRONT PORCH, unwind on the back patio, and take advantage of the storage shed for tools and toys. This established East Orlando location puts you just minutes from everything: UCF, Valencia College, the Waterford Lakes Town Center, parks, and a variety of shopping and dining options. Commuting is easy with quick access to SR 417 and University Blvd. And with zoning for A-RATED WINTER PARK HIGH SCHOOL plus a voluntary HOA, you get both convenience and freedom. Whether you are searching for your first home or a smart investment property in a prime area, Lipton Ct is the one to see – schedule your tour today!
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.
