One or more photo(s) has been virtually staged. Welcome to 6116 Scott Lake Rd, a beautifully maintained home located in the desirable Scott Lake Estates with no HOA. This spacious 4-bedroom, 2-bathroom residence also features an office and a flex room, offering plenty of space for work and play within its 1,955 square feet of living area. The converted garage provides an additional bonus or game room for even more versatile living space. Enjoy outdoor living at its finest with a completely fenced-in yard, vinyl privacy fencing, and an inground chlorine swimming pool complete with a brand-new pool pump. Relax in the screened-in patio overlooking the pool and backyard or entertain guests at the outdoor bar area. There’s also a shed for extra storage and an extra parking pad with gate access—perfect for a boat or RV. Inside, the home features tile flooring throughout the main areas and cozy carpet in the bedrooms. The updated kitchen offers recessed lighting, upgraded cabinets, stainless steel appliances, and a convenient eating space. The primary suite includes its own ensuite bathroom with a beautifully tiled standing shower. Additional features include a new roof installed in 2025, gutters, updated plumbing, new insulation, and a recently added attic ventilation system for energy efficiency. The AC was replaced in 2023, ensuring comfort year-round. The property’s landscaping includes attractive rock accents and a private front entryway with a sidewalk framed by privacy fencing on each side. French doors from the living room open to the lanai, creating a seamless flow between indoor and outdoor living spaces. Conveniently located just off Scott Lake Rd, this move-in-ready home is close to top-rated South Lakeland schools including Scott Lake Elementary, Valley View Elementary, and Highlands Grove Elementary, as well as Lakeland Highlands Middle. You’ll also enjoy easy access to the new Lake Miriam Publix, shopping, and numerous dining options nearby. Schedule your showing today and see all that this South Lakeland gem has to offer.
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.
