432 E Johnson Ave, Lake Wales, FL 33853
3 beds · 2 baths · 1,819 sqft
Get a free consultation call with an expert in the mortgage assumption process.
Step into the heart of Old Florida charm with this stunning 3-bedroom, 2-bath 1,819 sq. ft. home, offering stunning lake views and an array of fantastic features. Situated on a spacious corner lot with alley access, this home has been thoughtfully updated while retaining its original character. The inviting Florida room and family/game room with a built-in wet bar make it perfect for entertaining, while the back deck is ideal for relaxing and taking in the serene surroundings. Located just a stone's throw from both Lake Wailes Park and Crystal Lake Park, this property offers the best of both worlds—peaceful, lakeside living and easy access to local park amenities, such as fishing, walking trails, playgrounds, and basketball and shuffleboard courts, to name a few. Inside, you’ll find beautiful original hardwood floors, adding warmth and character to the home. The newly updated kitchen boasts brand-new appliances, a coffee bar, and a large walk-in pantry, making it a dream for cooking and entertaining. The master bedroom features a walk-in closet, offering ample storage, and a large open master bath, while the separate formal living and dining rooms provide great spaces for gatherings. Other standout features include a newer AC for added comfort, a separate indoor laundry area, and a spacious family or game room—perfect for all your activities. Cozy up on cooler evenings next to the charming fireplace in the living room, adding warmth and ambiance to the home. The home features a lovely back deck and firepit seating areas that invite you to relax and enjoy the peaceful surroundings, while a spacious workshop provides endless possibilities for hobbies or storage. With convenient alley access, the large lot offers plenty of room for parking and outdoor activities. Location is everything, and this home doesn’t disappoint. Just a short walk away, you’ll find both Lake Wailes Park and Crystal Lake Park, each offering scenic walking trails, boat docks, and tranquil views of the water—perfect for outdoor activities. Whether you're strolling through the park, fishing from the dock, or simply soaking in the natural beauty, you'll love the lifestyle this location provides. Plus, historic downtown shopping, charming cafes, and local historic sites are just around the corner, providing the perfect blend of lakeside tranquility and vibrant community life. With its ideal location, stylish updates, and classic Florida charm, this home offers the best of both worlds. Don’t miss out on the opportunity to own this rare gem in a highly sought-after neighborhood!
Source: STELLAR #S5123462
Learn about how it works
Why Roam
Gap financing to lower your down payment
Unlock down payments as low as 5% – only with Roam
5x the likelihood your offer is accepted
If a purchase takes longer than 45 days, we’ll cover the seller’s mortgage until you close
Close faster and stress-free
We close 2x faster because of our deep experience and lender relationships
Rates and payments are estimates based on public records.
Source: Public records
All values shown are estimated costs / mo.
Source: Public records
Source: STELLAR #S5123462
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.
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.
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.
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 620, 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 and Equal Opportunity Act.