1992 S Painted Hills Ct Martinsville, IN 46151
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About this home
Open House on the 12th at 2-4pm. This one-of-a-kind Home is a MUST SEE! Welcome to the most beautiful home in Painted Hills. We are delighted to present this exquisite lake house, a luxurious haven situated on the shores of Lake Holiday. The spacious, open kitchen is ideal for preparing gourmet meals. Notable features of this lake house include the 2 laundry rooms, billiard room, cedar closets, theater room, sauna, 24x14 storage building / garage perfect for recreational vehicles, loft (which could serve as a 5th BR), 4-car split garage, temperature-controlled basement level garage, and a custom 12 ft wet bar for entertaining. Due to the extensive list of amenities, we invite you to visit and experience it for yourself. This home offers the perfect blend of luxury and elegance, making it a true sanctuary. The wraparound deck is ideal for enjoying the serenity of the lake, providing a perfect spot to relax and unwind after a long day. The lakeside amenities are truly exceptional, offering endless opportunities for outdoor recreation and relaxation. Residents can enjoy swimming in the crystal-clear waters. The community has so much to offer including boating, fishing, swimming, a private clubhouse that is also a bar/restaurant, a swimming pool, tennis, basketball, pickleball courts, playground area, dog park, boat and trailer storage. Cedar Creek Brewery, Winery and distillery are just minutes away. Painted Hills is a private lake community just 6 miles east of I-69.
Source: MIBOR #22048891
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FAQs
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.
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