Welcome to lake life! This beautiful craftsman style home offers the best of ever day living and waterfront entertainment. Step from the walk out basement into an oasis on the water. Located in a quiet cove with views that open to the main channel just yards away! Wide open boating, skiing, jet skiing awaits. Multiple marinas a short ride away. The upgraded stationary dock offers covered space with built in cabinets and bar table with granite countertops, space for outdoor appliances if you wish. After a day of fun and sun on the lake you can retreat to the covered patio to cool off or the upper deck of the home and watch the amazing sunset reflections. Frequent wildlife visitors such as Blue Heron, turtles, osprey and deer. The open floor plan of the main floor has beautiful views of the lake from the entire back side of the house with large bright windows and doors. Gorgeous hardwood floors throughout. The primary bedroom is on the main floor with large bath, separate tub and shower, separate vanities, washer/dryer hook ups (1 of 2) in closet, walk in closet. A second bedroom on the main floor has its own full bath. A perfect guest room! 1/2 bath also on the main floor. The kitchen has a gas range, stainless hood, island with extra cabinets, soft close cabinets and drawers, and pantry. Lower level walk out finished basement has its own open floor plan with living room, 3rd bedroom, full bath, flex room (currently used as a 4th bedroom), exercise room/gym, Office with built ins, 2nd laundry. Also, great views of the lake from the entire lower level. Easy access to the dock. The garage, connected to the house by a covered breezeway, has plenty of space to park two large vehicles/trucks plus space for a golf cart or ATV. 2ND LIVING quarters above the garage with full kitchen and island seating. Full bath and its own laundry hookups. Hardwood floors and tiled bath. 2nd room currently used as 5th bedroom. Convenient location with shopping and dining close by. Parks and highly rated schools.
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.
