This beautifully updated three-bedroom, two-and-a-half-bath, two-car garage home is perfectly situated on a conservation lot with a peaceful pond view in the highly desirable Park Lake Estates community. Featuring an open and efficient split-bedroom floor plan, the home offers both privacy and functionality. Upon entering through the foyer, you are welcomed into a spacious living room that flows seamlessly into the dining area, kitchen, and enclosed sunroom, creating an ideal layout for both daily living and entertaining. The renovated kitchen is a standout, showcasing stainless steel appliances, granite countertops, Marazzi porcelain backsplash, solid wood cabinetry, and recessed lighting. The oversized primary suite offers exceptional comfort with two separate walk-in closets and a rare dual-bathroom configuration that provides private facilities for each occupant. Two additional bedrooms are located on the opposite side of the home, adjacent to the guest bath and an indoor laundry room, enhancing the privacy of the floor plan. This home has been extensively refreshed with new interior and exterior paint, new toilets, new carpet in select rooms, professional carpet cleaning, and completed interior repairs by licensed professionals. Seller will be replacing roof prior to closing Dec 2025 / Jan 2026. Additional features include plantation shutters, updated flooring, vaulted ceilings, stone counters, ceiling fans, an open-concept layout, and walk-in closets. The enclosed sunroom provides a tranquil vantage point overlooking the conservation area and pond, delivering a serene setting to unwind. Located within the well-maintained Park Lake Estates subdivision, the HOA covers community repairs, maintenance of entrances and walls, lawn care, newsletters, and other neighborhood services. The home is conveniently close to schools, parks, markets, restaurants, and major conveniences, making it an ideal choice for buyers seeking an updated home in an excellent location. Homes with this level of improvements, modern upgrades, and a premium conservation lot are rarely available in Park Lake Estates, offering a truly exceptional opportunity.
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.
