Ideally located in a Cul De Sac backing to a large lake, this Key West style home is immaculately maintained. Brick paver driveway under the Portico leads to a oversized 3 car garage that you can drive though and go out the other side! Dbl door entry w/glass inserts opens to a foyer area and expansive view across the great rm to the pool and lake beyond -WOW! Real hardwood flooring throughout the great rm, dining, kitchen, and 4th bedroom/office. Spectacular kitchen offers 25 white shaker style cabinets - 12 drawers - high end GE Cafe built-in oven, microwave and dishwasher. High end GE Cafe 6 burner gas cooktop with commercial grade vented SS hood, and French door refrigerator. The large island houses the sink and is finished in a deep navy color. see more The primary suite is your retreat and offers two walk in closets w/custom shelving. The spacious bedroom easily accommodates a king size bed and offers a tray ceiling with tongue and groove wood detail, crown molding, and a wall of windows looking out to the pool, lawn and lake! Primary bath offers two separate large vanities, each with 6 drawers and 2 cabinets. A large vessel tub sits atop river rock flooring; and of course a separate walk through shower with 3 shower heads. Bedrooms 2 and 3 are also large enough for a king size bed. Bedrm 3 also has a wall of windows looking out to yard and lake. Bedroom 4 is currently used as an office / sitting area; no closet. Outdoor living at its finest wit a large paver screen porch and pool area. Great summer kitchen with granite counters, built-in grill, fridge and sink! Paver walkway through backyard leads roasting marshmallows by your lakeside firepit. This is a very custom home; note the trimmed out windows with cornices above windows and doors. Tongue and groove wood ceiling treartments, whole house generator! Easy to show.
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.
