Nestled in the coveted waterfront community of King’s Cove in Fruitland Park, Florida, lies a stunning 4-bedroom, 2-bath pool home that embodies the essence of Florida living. This harmonious blend of comfort, spaciousness, and convenient access to Lake Griffin (Harris Chain of Lakes) via the community boat ramp makes it an ideal haven for fishing enthusiasts. King’s Cove, strategically positioned between The Villages and Leesburg on the Lake Harris Chain of Lakes, stands as a desirable waterfront community without the constraints of an HOA. Just a short drive from Lake Griffin State Park, you’ll find a haven teeming with abundant wildlife and tranquility. Embrace the perfect balance of peaceful, natural surroundings and the conveniences of nearby shopping, dining, and top-rated schools. Stepping inside, you’re greeted by a flood of natural light in the expansive formal living area, perfect for hosting family gatherings and entertaining guests. The Chef’s Delight Kitchen boasts rich wood cabinetry, granite countertops, and modern appliances. A separate dining room offers extra space for holiday celebrations and special occasions. The inviting family room is a true highlight, featuring an electric fireplace adorned with charming brick accents and breathtaking views of the meticulously manicured landscaping and the screened-in pool area—an ideal spot to unwind after a long day. The primary suite provides a serene retreat with generous space and elegant details. The en-suite bathroom is a luxurious sanctuary, complete with a soaking tub, a separate walk-in shower, dual vanities with wood cabinetry, and plentiful counter space. Don’t miss the spacious walk-in closet for additional storage. On the opposite side of the home are the guest bedrooms, providing comfortable accommodations for family members or guests. Step outside to your private oasis, featuring a sparkling pool embellished with brick accents, a decorative waterfall, and a relaxing spa. Indulge in Florida’s year-round outdoor living from your screened-in lanai and patio, complete with granite countertops and sink, perfect for your summer kitchen. Whether you’re enjoying a leisurely morning coffee or hosting a lively evening gathering, this stunning pool home offers the ideal blend of comfort and convenience. The fully fenced backyard provides plenty of space for play, and on beautiful evenings, you can unwind and gather around the cozy fire pit to stargaze. The home’s versatile interior spaces are complemented by a separate outdoor shed with air conditioning and electricity, offering endless possibilities, such as a man cave, she-shed, home gym, or office. The garage has been transformed into an additional living area, which the sellers currently use as a gaming room. Recent updates include all-new ceramic tile throughout the home, refreshed bathrooms with new vanities and hardware, all-new ceiling fans, a new 2022 air conditioning system with warranty, a new 2022 water heater, and freshly painted interior and exterior in 2023. Well-maintained and move-in ready, this exceptional property eagerly awaits its next family. Call today to schedule a showing! All information is deemed accurate, but must be verified by the buyer’s agent and buyer.
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.
