Welcome home to 561 Lake Cummings Way Lake Alfred, FL Built in 2016, this well-maintained home delivers modern construction, functional design, in one of Polk County’s growing residential communities. Inside, the open-concept layout does exactly what buyers want kitchen, dining, and living flow together naturally, whether you’re hosting or just winding down. The primary suite is private, the bedroom sizes are comfortable, and there’s flexibility for a home office or guest setup. Natural light throughout makes the whole home feel bigger than it is. But the real story here is where this home sits. LEGOLAND Florida is about 11 miles away, and Walt Disney World is roughly 29 miles out close enough to enjoy, far enough to avoid the tourist congestion. Winter Haven, Lakeland, and Orlando are all within easy reach , giving you access to major employment, shopping, and entertainment without paying their price tags. Right at your doorstep, Mackay Gardens and Lakeside Preserve offers nature trails, a canoe launch, and a lakeside park , while Lion’s Park gives you access to freshwater fishing and the waters of Lake Alfred itself . The Chain of Lakes Trail is about a mile away, connecting Lake Rochelle and Highway 92 for a scenic 3.2-mile walk or ride . On the commercial side, the US-27 and Highway 92 corridor is actively expanding new retail including a Target and surrounding shopping centers are bringing everyday convenience and long-term value growth directly to this area. Whether you’re buying to live here or investing in a market that’s still ahead of its growth curve, this one checks the boxes. Modern build, strong location, real lifestyle amenities nearby. Schedule your private showing today.
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.
