This well-maintained custom brick home is perfectly situated on a beautiful corner lot in the gated Sunset Cove community of Lake Country, offering the ideal blend of comfort, functionality, and lifestyle. Down Payment Assistance is available, or take advantage of 1% toward closing costs with our preferred lender! Qualified VA buyers may also benefit from a low-rate assumable VA mortgage on this exceptional home. Designed with both convenience and peace of mind in mind, the home features two HVAC systems, with one recently replaced in August 2024. The smaller yard is perfect for buyers seeking low-maintenance living without sacrificing outdoor enjoyment — ideal for busy lifestyles, frequent travelers, or anyone who would rather spend weekends relaxing and enjoying the neighborhood amenities instead of yard work. Inside, you’ll be welcomed by soaring ceilings, beautiful laminate wood flooring, and a bright open-concept living and dining area that’s perfect for everyday living and entertaining alike. The spacious kitchen offers abundant cabinetry, a center island, and a breakfast bar that creates the perfect gathering space for family and friends. The private primary suite is conveniently located on the main floor and features an oversized custom walk-in closet complete with built-ins and exceptional storage space. Upstairs, you’ll find three generously sized bedrooms, all featuring walk-in closets and ceiling fans, along with a large bonus room offering endless possibilities. Whether you envision a home office, media room, game room, craft room, man cave, or additional living area, this flexible space can easily accommodate your needs. The bonus room also includes a granite bar, refrigerator, and ice maker for added convenience. Plus, enjoy beautiful water views from the upstairs bedrooms and bonus room. HOA amenities include front yard mowing and trimming, access to a private day dock and a peaceful waterfront sitting area located just steps from the home.
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.
