***OPEN HOUSE 1/31 from 11-1***Built in 2020, this thoughtfully designed home blends open living with everyday functionality in a location that keeps you close to everything while still feeling tucked away. From the moment you step inside, the layout flows effortlessly with an open kitchen, dining, and living space that invites connection and comfort. The kitchen anchors the home with a large island, tiled backsplash, added cabinetry, and a striking shiplap accent wall. A pantry and generous counter space make it easy to cook, gather, and entertain. Luxury vinyl plank flooring runs throughout the main living areas, offering durability and warmth, while carpeted bedrooms provide a soft retreat at the end of the day. The primary suite is set apart for privacy and features a spacious bedroom, a large walk-in closet with a custom closet system, and an additional oversized linen closet. The primary bath includes added storage and a private water closet with built-in shelving for extra organization. The laundry room has been enhanced with added shelving and a hanging bar, creating a functional space designed for real daily use. Step outside to the screened back porch, where ceiling fans and open views create the perfect setting for morning coffee or evening relaxation. The backyard offers a unique local experience, with the opportunity to watch the Blue Angels practice overhead, a true Pensacola perk that never gets old. Additional storage throughout the home adds convenience without sacrificing living space. With modern finishes, smart upgrades, and a layout that supports both entertaining and quiet moments, this home offers a welcoming place to settle in and make your own.
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.
