Welcome to your coastal retreat in desirable Waretown, this 1850 sq ft two-story contemporary home is located just 4 houses away from the Barnegat Bay. This beautifully updated 3 bedroom, 2.5 bath shore home blends effortless style with relaxed, year round comfort. The spacious layout includes a first-floor primary suite, first floor laundry room off a cozy family room with gas fireplace, updated kitchen with stainless steel appliances, quartz white countertops, expansive kit cabinets, recessed lighting, and vaulted ceilings. Enjoy a rooftop deck with bay water views accessible thru upstairs bedroom and this is the perfect spot to view the Memorial Weekend Founders Day fireworks. Additional upstairs bedroom has a direct door into remodeled hall bath, perfect for a guest or princess suite. A walk-in attic offers potential for a future 4th bedroom, home office or bonus room. There is even a full view door (safety secured & can not be opened) for a future second story deck and possible rear rooftop deck for the next owner. This home is set up for entertaining and offers a lovely fenced in backyard with rear deck, beautiful plantings and a large woodshed. Recent updates over the last 3 years includes garage door, roof, tankless hot water heater, A/C unit, washer/dryer, quartz kit counters, updated kitchen & appliances. Whether you are looking for a full-time home or a weekend escape, this home offers the best of coastal living and just steps from the bay. There is a one car oversize garage with a wood burning stove and makes a great hang out space. Bryant park and the Waretown public dock is down the street and short walk away to further enjoy the water views. Marinas are close by, as is Albert Music Hall and variety of nearby restaurants, such as Clemmy's, Lighthouse Tavern , Caffery's & Lefty's with shopping a short drive from this location. Another feature is the Barnegat Bike Trail located nearby. Flood insurance required and is $1,215 a year currently thru May 2026. Owner is motivated and will consider offers.
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.
