485 LANHAM DR, Winter Haven, FL 33881
Welcome to Sanctuary by the Lake, an exclusive gated community located in Winter Haven! This beautiful 3/2 home built by Southern Homes, features vaulted ceilings, an open living-dining-kitchen combo, and a split bedroom layout, offering a cozy upscale environment at a great price. Granite countertops, soft under-counter lighting, 42" cabinets, a large breakfast bar provide a well-designed kitchen perfect for daily meals or entertaining. The private master suite sits just off the kitchen and away from the guest wing. The upscale master ensuite has a window giving off natural light, a double vanity with plenty of counter space, as well as a large shower with modern tile. The XL master closet is a dream and gives no need to fight over storage space! Off the kitchen is a cute reading nook or office with a door leading to the laundry (and garage). The home also has a separate media room/den/second office off the front entry with double finch doors offering additional privacy. Two additional bedrooms and a bull bathroom round out the opposite side of the home. Out back, you'll find your own private patio, perfect for enjoying the beautiful waterfront view over a morning coffee or an afternoon BBQ. Additional features include a whole-home water filtration system, extra storage space in the garage, and an extra-long driveway which holds 6+ cars. This home is situated on a quiet cult-i-sac. The community features a public dock access to Lake Rochelle as well as the opportunity to enjoy lakefront activities such as kayaking, boating or other water sports; there is also a playground. Conveniently located on US 17, you'll have easy access to Central Florida’s attractions: 10 min to historic downtown Winter Haven, 35 min to the Magic Kingdom, 45 min to Universal, and about 1.5 hours to West Coast beaches.
You may be able to put down less than the total down payment amount of $50,487 and have the rest of the funds financed with a 2nd mortgage from a lender. 4
Location
Details
How it works
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Tour
Whether you have an agent or you’re just starting your search, reach out to us and we’ll help set up a home tour.
Offer
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Close
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
Who can qualify
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.
Frequently asked questions
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.
Will an assumption work for me?
An assumption might be a suitable option for you if you meet the lender’s qualifications. We also offer Roam Boost to help buyers reduce the down payment required to a minimum of 5-15%. See below for more FAQs specific to Roam Boost.
Why do buyers use Roam?
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Roam helps home buyers find and purchase homes with a low-rate assumable mortgage included. Once you find your dream home, Roam manages the process of assuming a low-interest rate mortgage, helping buyers save thousands a year on mortgage payments compared to buying with a traditional mortgage at today’s rates. On average, buyers who use Roam save $15,000 in mortgage payments annually.
MLS ID: #o6227432