Sitting on just over an acre, this lovingly restored 1925 Florida farmhouse is full of character, charm, and opportunity. With peaceful lake views and glowing sunset skies, this home feels like the kind of place where life naturally slows down and memories are made. Inside the main home, you’ll find five bedrooms and two bathrooms, offering plenty of comfortable and functional space for everyday living. The main living space features a cozy fireplace, plenty of room for gathering with a dedicated dining area. The kitchen features updated cabinetry, granite countertops, and stainless steel appliances, creating a stylish and functional space that blends seamlessly with the home’s classic character. The screened patio is a favorite spot—perfect for relaxing evenings, morning coffee, and watching the sun set over the lake. Original hardwood floors run throughout, adding warmth and a sense of charm, while thoughtful updates make the home feel refreshed and move-in ready. Major updates include new roofs on all of the buildings, AC units, and interior and exterior paint completed in 2020, along with a new tankless water heater installed in 2023. Just outside the main home is a stand alone laundry room with a full bathroom. Attached is a large fully fenced area, complete with a RV hookup spot! What truly sets this property apart is the additional space it offers. A separate one-bedroom, one-bath cottage, completely renovated in 2023, sits privately on the property and adds so much flexibility. Complete with its own laundry room, the cottage has been a successful Airbnb for years and was a long term rental before that. The space would be just as perfect for guests, extended family, or multigenerational living! Located in the charming town of Lake Hamilton, you’ll love the small-town, laid-back feel, with NO HOA, while still being just minutes from Winter Haven and Haines City! Located just off Highway 27, across from Port 27 and a public boat ramp on Lake Hamilton - part of the renowned Winter Haven Chain of Lakes, this home offers an easy, connected lifestyle. Daily commutes and errands are simple, lake days are always within reach, and when adventure calls, the best of Central Florida is only a short drive away. It’s the perfect balance of peaceful living and convenient access to everything that makes this area so desirable. Rarely does a property like this come along—offering land, charm, versatility, and income potential all in one unique old Florida setting.
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.
