PRICE IMPROVEMENT. Discover the privacy, freedom, and possibilities of owning over 11 acres across two adjoining parcels in the peaceful rural countryside of Milton. Whether you're dreaming of a place to bring all your toys, planning to build your future home, or simply wanting room to spread out, this property delivers the outdoor lifestyle that is hard to find. The property features a small home that offers immediate living space, allowing you time to design and build a larger residence if desired. It’s an ideal setup for anyone wanting acreage now and expansion later. The wooded acreage offers natural privacy and abundant wildlife, with deer frequently spotted, making it an excellent setting for hunters and nature enthusiasts. The home is a 2-bedroom with a study and 1 bathroom, and while it needs some TLC, it includes key updates: a 2020 metal roof and a 2018 Rheem HVAC system. The property also features a private well, a major advantage for large parcels. A large pole barn provides ample storage for boats, ATVs, RVs, trailers, equipment, or tools. You’ll also enjoy a variety of fruit trees—peach, plum, fig, lemon, banana, and orange, along with a beautiful row of muscadine vines. Both parcels are located in Flood Zone X, the lowest-risk flood zone, no flood insurance required, and NO HOA. Enjoy rural living while staying close to Santa Rosa County’s top outdoor destinations. Spend your weekends tubing or kayaking the Blackwater River, zip-lining at Adventures Unlimited, visiting events at Southern Raceway, or relaxing on the sugar-white sands of Navarre Beach. Shopping, dining, schools, and Santa Rosa Medical Center are also within a reasonable drive, offering the perfect blend of privacy and convenience. If you’ve been searching for acreage, privacy, and a true country lifestyle, this unique two-parcel property is the perfect fit. Price improvement and home improvement.
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.
Yes. Non-veterans can assume a VA loan, provided they meet the lender’s VA criteria. When a qualified buyer assumes a VA mortgage from a veteran or active-duty service member, the seller’s VA loan entitlement remains tied to the assumed loan until the buyer pays off or refinances the loan. This process restores the veteran seller’s entitlement, enabling them to use their VA benefit for a future home purchase.
Yes. All FHA loans are assumable by law as long as the buyer meets the FHA’s credit, income, and qualification requirements and obtain lender approval before assuming the loan (per FHA regulations effected December 15, 1989). Roam makes this process simple for buyers.
Generally, conventional loans are not assumable. In rare cases, a conventional loan may be assumable with lender approval. Use our search tool to find homes with assumable low-rate loans, or reach out to us if you’d like to confirm a specific home’s assumability.
