Stylish Five-Bedroom, Three-Bath Beauty where Creative Charm meets Modern Comfort! Only a few years old but already loaded with upgrades you simply will not find in new construction. Located in a highly desirable neighborhood within walking distance to top-rated schools, local restaurants, and nearby boat ramps, plus just a short drive to military bases and the sugar-white sands of Perdido’s beautiful beaches. Sitting on one of the largest lots in the neighborhood, the fully fenced backyard is ready for pets, play, or hosting your next backyard bash. Step inside and you will love the bold, fun paint choices that bring this home to life, paired with sleek quartz countertops, a stylish backsplash, and gas cooking, a rare and exciting upgrade that chefs appreciate. Paid-off solar panels help keep those power bills low while you stay comfortable year-round. The spacious layout features two living areas, one upstairs and one down, along with a versatile flex space perfect for a formal dining room, home office, or playroom. A downstairs guest suite with a full bath makes the perfect setup for visitors or multi-generational living. Upstairs, the primary suite is a true retreat with two walk-in closets, a double vanity, walk-in shower with glass door, and a custom closet system designed for maximum storage. Durable wood-look vinyl flooring flows throughout the downstairs, tying everything together with warmth and style. Homes like this do not sit still for long, so do not blink or you might miss it! Bonus opportunity: this home features an assumable VA loan with a very low interest rate, offering qualified buyers the chance to lock in major monthly savings!
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.
