485 Lanham Dr, Winter Haven, FL 33881
3 beds · 2 baths · 1,834 sqft sqft
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.
Source: STELLAR #o6227432
Interest rate and monthly payment estimated based on public records.
Source: STELLAR #o6227432
Source: Public records
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
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.
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
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.
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.
MLS ID: #o6227432
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.