656 Lawson Dr Lake Orion, MI 48362
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About this home
Custom built, contemporary waterfront home, situated on Small Square Lake (spring fed) which has access to Big Square Lake supports lakeside fun like pontoon, paddle boarding, kayaking, fishing etc. Interior has loads of custom features, from the gourmet kitchen (all appls incl) with loads of cabinets & counter space. Main floor offers a delightful office space, first floor laundry, half bath, a cheifs dream kitchen which opens into formal dining room, leading to great room overlooking the deck & gorgeous, clean lake. Main floor also has primary bedroom with full bath including tub & stand up shower & loads of closet space. Entire home done in popular neutral colors. Heading to second level where you'll find two very nice sized bedrooms and a full bath. Also access to attic, which would make great storage, or can be used to increase size of upper. Both bedrooms have lake view. Newer hot water tank, furnace, new central air, all vinyl windows, brand new, huge, metal oversized 2 car garage featuring separate electric, patio off garage leading to main floor entrance. Recessed lighting thru out. Anderson doorwall leads to deck with roll out awing, and oversized yard with room for all outdoor activities and fire pit. Maintenance free exterior. Polly Ann Trail nearby for more recreational activities, biking, hiking, etc. Wonderful Lake Orion schools, close to shopping and Great Lakes Crossing. Seller looking at all offers and immediate occupancy. Come see for yourself, all the great features of this waterfront beauty.
Source: REALCOMP #20251017284
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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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