This 3 bedroom (potential 4 bedroom), 3 full bath, 2926 SF waterfront, mid-century, brick, US Steel ranch, located on Lake Geneva. A 1000 SF permitted addition in 1999, with bricked exterior to match the rest of home. This included an in-ground (35' x 15') swimming pool (mar cite resurfaced and all new equipment in 2018), mini-split heated-AC FL room, and a third bathroom which brought total SF to almost 3000 (open floor plan). There is 1/15 ownership of the park located in the middle of the cul-de-sac and 80' waterfront is deeded with the property. The primary bedroom has an adjacent dressing area with walk-in closet. The sizable en suite primary bath is equipped with a double sink vanity, a large tiled shower and a garden Jacuzzi tub. There is also a dressing/sitting area adjacent to the primary bedroom. Five solar tubes and an additional five skylights throughout the living area add natural light. Whole house surge protector on meter. Don't miss this spacious home! The interior flooring was replaced in 2021 with wood-look porcelain tile. The large back yard (100 x 100+/-) is fenced and cross-fenced (green vinyl 5 ft chain link/white vinyl privacy) with a separate section for dogs to access the built in doggie door in the laundry room. In 2014, the kitchen was remodeled with new solid cherry Kraftmaid soft close cabinets, granite countertops, stainless steel appliances, porcelain tile flooring, recessed LED lighting, etc. The kitchen pantry contains a large, deep sink. The primary bath and a second bath were also remodeled (2014) with new tub surrounds, cabinets, granite countertops, updated porcelain tiling, etc. In July of 2015, the HVAC heat pump was replaced with a new Tempstar 16 SEER, 2-stage compressor with variable speed AHU and communicating programmable thermostat. In 2016, the shingle roof was replaced with a new metal roof plus 5 solar tubes, as well as the existing 5 skylights (all replaced). The attic insulation was increased to R30 with blown-in insulation. Windows on north side were replaced with double hung/pane, low-E in 2015. In 2016, a 5.3 KW solar photovoltaic system was installed on the roof to lower energy bills. In July 2019, this system was upgraded with the addition of 24 more 305 watt panels making a total of a little over of 13 KW. This solar production is net metered through Clay Electric. The in-ground pool was renovated in 2018, with new mar cite, a salt chlorine generator (replaced in 2024) and a variable speed pump. A peristaltic pump on dedicated timer was added in 6/21 and central sacrificial anode was added in 2025. There is an outdoor hot and cold shower close to the pool. Citrus, camphor, and live oak trees are established on the property. There is also a remote controlled in-ground sprinkler system (front/back). An outdoor 30 Amp outlet for RV hookup installed in 2018. In 2020, a 3 head, 2 ton mini-split AC unit with 3 heads (ceiling units bonus room, primary BR and wall unit in sunporch). The bonus room was renovated with cypress boards and baseboards on all 4 walls. A clear view of the lakefront can be enjoyed from the pool side of house. In 2025 a panoramic picture window replaced the bank of 3 vinyl windows in the primary bedroom facing the lake. Don't miss this amazing pool and lakefront home!
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.
Data provided is deemed reliable but is not guaranteed. The data relating to real estate for sale on this website comes in part from the Northeast Florida Multiple Listing Service, Inc. The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed. Copyright © 2025 Northeast Florida Multiple Listing Service, Inc. All Rights Reserved.
