1609 E Lake Parker Dr, Lakeland, FL 33801
4 beds · 2 baths · 2,099 sqft
Under contract-accepting backup offers. Lakefront Living on Nearly an Acre! Build Your Own Dock! Discover this 4-bedroom, 2-bathroom lakefront home on 0.99 acres, offering stunning water views and the unique ability to build your own dock out to the lake in front of the property! The front entry into this home features an enclosed Florida room to overlook the largest lake in the city of Lakeland. Upon entry you'll be amazed at the open concept featuring the spacious living room, dining room, and additional great room to increase your open space or enclose it for privacy using the beautiful french doors! The kitchen shows off it's ample counter space with plenty of cabinet storage. Enjoy making meals while overlooking the spacious back yard. This well-maintained home boasts a 2019 metal roof, 2024 septic, drain field, and a 2024 tankless water heater. The owner has meticulously kept records of upgrades, including prior window replacements, install of extra ceiling insulation, and more, all available for review during showings. Enjoy outdoor living with a large screened porch on the side of the home and a Florida room-style porch in the front, both perfect for soaking in the breathtaking lake views. The fenced yard provides privacy and security, while the oversized driveway, covered carport, and three storage sheds (two with access to water, electric, and a workshop) provide ample space for all your needs. This home is not in a flood zone, no prior flood damage and no HOA. Trash pick up is included in your property taxes. In addition to having your own piece of property to access lake parker, you can also enjoy the Lake Parker Park amenities close in proximity to include a boat ramp, picnic pavilions, playground, sports courts, sports fields and nature trails! Plus nearby shops, dining and easy access to I-4 offers convenience for all aspects of your lifestyle!
Source: STELLAR #TB8364892
Source: STELLAR #TB8364892
To qualify, you must meet the current FHA or VA 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%. 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.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
What is Roam?
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.
What is an assumable mortgage?
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.
Why is an assumable mortgage valuable?
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.
How can you find assumable mortgage listings?
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 “Get Notified” 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.
How do I qualify for an assumable mortgage?
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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.