WELCOME HOME to 671 W Cadillac Drive a Charming 3-Bedroom 2-Bath Retreat with Lake Access on an Oversized Lot – Welcome to your slice of Florida paradise! This inviting 3-bedroom, 2-bath single-family home sits on a spacious oversized lot, offering plenty of room for outdoor living, gardening or simply enjoying the extra privacy with peaceful lake views and everyday convenience. The highlight? No HOA bring your boats or any toys—perfect for fishing, kayaking or paddleboarding. Imagine starting your mornings with coffee on the patio, watching the sunrise reflect off the water, or unwinding after a long day while the sun sets and enjoying outside dining. Inside, the home features a functional split-bedroom floor plan with generous living spaces, abundant natural light, and plenty of potential to add your personal touches. The spacious living and dining areas flow seamlessly, creating an inviting atmosphere for gatherings with family and friends. The kitchen offers ample cabinetry and counter space, ideal for preparing meals while enjoying scenic water views. The primary suite provides a relaxing retreat, complete with an en-suite bath and walk-in closet. Two additional bedrooms offer flexibility for guests, a home office or growing families. Outdoors is where this home truly shines! The oversized lot provides endless possibilities for expansion, outdoor entertaining, or creating your dream backyard oasis. Newer Roof, Water Heater 2016, AC 2016, Culligan Water Filtration System. Located in desirable Altamonte Springs, you're just minutes from Cranes Roost Park, Uptown Altamonte's shopping and dining, major highways (I-4 and 434), top-rated Seminole County schools, and the vibrant Orlando area. Enjoy the perfect blend of suburban tranquility and easy access to everything Central Florida has to offer. Don't miss this rare opportunity to own a piece of lakeside living on a generous lot! 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.
