WELCOME TO YOUR WATERFRONT DREAM HOME OASIS IN GROVELAND! This move-in ready, 5-bedroom, 3-bathroom lakefront home is nestled on a spacious half-acre corner lot with no rear neighbors, offering the perfect combination of privacy, space, and natural beauty. With direct access to the Lake County Chain of Lakes, this is truly a waterfront dream home oasis—ready for you to add your own dock and enjoy boating, jet skiing, and endless lakefront adventures right from your backyard. Step inside to the welcoming formal sitting and dining areas, perfect for hosting guests or enjoying quiet evenings. From there, the home opens into a grand kitchen with a massive island, granite countertops, and 42-inch cabinets, seamlessly flowing into the spacious great room—the heart of the home and an ideal gathering space for family and friends. This thoughtfully designed floor plan offers two primary suites for ultimate flexibility—one located on the main floor, perfect for guests or multigenerational living, and another upstairs, providing a private retreat with a luxurious en-suite bath and walk-in closet. Three additional bedrooms and a versatile loft area will give you even more room to spread out. Then step outside into your private backyard retreat—a true extension of your home and lifestyle. Picture yourself sipping morning coffee in the enclosed lanai, surrounded by lush greenery and birdsong. In the evening, gather with loved ones under the stars by the crackling firepit, or stroll through the yard filled with ornamental and fruit trees, picking fresh fruit as you go. With no rear neighbors, you’ll enjoy serene privacy as you take in breathtaking sunsets over the water—every day feels like a mini getaway. Additional highlights include a brand-new stove/oven and microwave, and monthly A/C servicing for comfort and peace of mind. Located in the sought-after Eagle Pointe community, this home combines elegance, functionality, and true lakefront living.
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.
