Experience this luxury, lakefront paradise located in Eastdale Acres Estate. Experience luxury, lakefront living at its finest with this remarkable property boasting 287 ft of Lake Mayo’s shoreline. A custom home that has been thoughtfully designed for comfort, entertaining, and functionality, blending refined finishes with modern conveniences. Secluded and landscaped 4.39 acres, an aggregate driveway extending from the road to the circular parking area welcomes you to the residence, along with a 3 car garage. The garage features finished out walls, insulated doors, built-in cabinetry, and AC. A 30’ x 60’ insulated shop & RV garage with RV hookups and AC offers incredible space for hobbies, vehicles, or storage. Step inside to discover the first floor with 2 primary bedrooms with en-suite bathrooms, perfect for mother-in-law quarters. Hickory wood floors throughout the downstairs, solid knotty Alder doors, plantation shutters, and soaring 9’ ceilings compliment this home. Commercial grade kitchen was fully remodeled, equipped with new appliances and lighting throughout the home. The living area highlights large windows with views of the backyard paradise and cozy, stone fireplace for cool evenings. Upstairs provide a 2nd living, 2 bedrooms with en-suite bathrooms, large storage room, a workout room & 1.5 bathroom. For those that work from home, fiber optic internet and 2 offices with custom built-ins. A complete home sound system extends to the outdoor bar, complete with a full bath, ice maker, beer fridge, grill, griddle, and full-size fridge freezer, heated, chlorine pool and hot tub. Additional features include spray foam insulation, 2 tankless water heaters, generator for peace of mind that runs the entire home and pool. Deep well and lake-fed systems for irrigation. Mosquito misting system and hard-wired camera security system. Whether you are entertaining, hosting family gatherings, or providing a corporate retreat let us make this oasis dream your reality.
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.
