MOTIVATED SELLERS!! 7.35-Acre Equestrian and Homestead Haven in Scenic Babson Park........with Infinite Potential !! Property Overview: Unmatched privacy, sweeping rural vistas, and ultimate versatility await at this expansive 7.35-acre country estate. Nestled down a long, private driveway in the highly sought-after, tranquil community of Babson Park, this fully fenced property is a dream come true for equestrians, hobby farmers, investors, or anyone looking to build a tailored Florida homestead. If you are seeking space, freedom, and affordability without sacrificing proximity to modern conveniences, this is your canvas. The true value here is in the Land and Infrastructure. The crown jewel of this property is the sprawling, high-and-dry acreage and its existing agricultural infrastructure. Completely perimeter-fenced, the land is perfectly suited for horses, cattle, or livestock. Outbuildings include: Two Functional Barns: Ready to be utilized for stalls, feed, tack, or equipment storage. Outdoor Living: Features a large, rustic fire pit area perfect for gathering under the stars. Whether you choose to clear a few areas to restore pristine pasture land, or maintain the current secluded growth for maximum privacy, the panoramic, unobstructed views of Florida’s famous sunrises and sunsets are absolutely breathtaking. Sitting on the property is a substantial 2004 double-wide mobile home, boasting an impressive 2,400 square feet of interior living space. Featuring a desirable split floor plan with 4 spacious bedrooms and 2 full bathrooms, this home offers an expansive layout. Note: The home is a true fixer-upper needing interior TLC and attention, and the acreage requires some cleanup. It is being sold strictly As-Is, with the washer and dryer included. Bring your tools and vision to completely renovate the existing structure, or live on-site while you plan and build your custom dream home. (Note: some of the repairs to flooring and the walls are being completed by the sellers.) Location & Market Appeal: Located in southeastern Polk County, Babson Park is celebrated for its quiet, rural charm, rolling hills, and close proximity to pristine freshwater lakes like Crooked Lake and Lake Caloosa. This property operates on private well and septic (no water bills!) and features No HOA, giving you the ultimate freedom to park your RVs, boats, tractors, or classic cars without restriction. Properties of this acreage size with established structures rarely hit the market in this price tier. Capitalize on the land value, tap into the equestrian lifestyle, and build sweat equity from day one!
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.
