Virtually Staged. Welcome home to this beautifully updated 3-bedroom home! Located in the highly desirable Cleveland Heights community, you will absolutely love the charm and location offered here. If you enjoy taking strolls, you will appreciate the proximity of the Cleveland Heights golf course, Common Ground Park, and picturesque Lake Hollingsworth. Step inside to discover a bright, open-concept floor plan featuring an expansive living and dining area designed to ensure you are always comfortable in this space and your guests always feel welcomed. The updated kitchen is truly the heart of the home, showcasing gorgeous quartz countertops, a large kitchen island, decorative backsplash, tall cabinetry featuring soft-close cabinets and drawers with matching appliances, and a deep kitchen sink perfectly situated below a window overlooking the backyard. Filled with natural light and modern finishes, this inviting space is sure to impress. You’ll also appreciate the easy maintenance of having no carpet throughout the home. Luxury vinyl plank flooring extends through the main living areas and bedrooms, while the primary bathroom features tile flooring and the half bath includes laminate flooring. All three bedrooms are generously sized and equipped with ceiling fans for added comfort. Major updates provide peace of mind, including roof replacement in 2016, upgraded underground electrical service with a newer panel, fixtures, devices, and fans completed in 2017, plus a new 24,000 BTU mini-split unit installed within the last 2 years! Featuring both central air and a mini-split unit provides for additional comfort and efficiency. Some other great features of this home include rain gutters, and a laundry room that is complete with a stackable washer and dryer plus newly added storage racks for extra organization. The outdoor space is a true highlight of this home! A newly installed white vinyl front fence creates an attractive first impression with dual access. Beyond the fence, you'll find a cozy, private courtyard that is the perfect spot for relaxing and even grilling with friends and family, and a large, fully fenced backyard with plenty of room for pets, outdoor activities, play, gardening and entertaining. A storage shed provides extra space for tools, lawn equipment, and seasonal items. With its thoughtful updates, inviting layout, exceptional outdoor space, and proximity to major hotspots in Lakeland, this house is one you will be happy to call 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.
