WATERFRONT Home! CONVENIENTLY located just minutes from the beaches of 30A and a short boat ride down the canal to Mallet Bayou and Choctawhatchee Bay. On a private no-through street. Southern style home with a well cultivated front courtyard, mature live oak trees and relaxing Koi pond. Back yard features an expansive deck off the house and a dock on the canal with a boat lift, ready for your boating adventures. Walking through the front door you get that grand entrance feeling in the foyer and notice the beautiful custom lighting. LVP flooring throughout whole home. Kitchen is open concept with sitting area and breakfast nook attached, along with a wood burning fireplace in the sitting area. Formal living space and dining room are adjacent for great entertainment options. A half bath is also conveniently located downstairs for easy guest access. Making your way upstairs you find three spacious bedrooms, two of which share a hall bath. The master bedroom has a walk-in closet and large bathroom featuring a jetted garden tub. Have that morning cup of coffee overlooking the water, right out of bed, on your own upstairs deck connected to the master bedroom by a set of French doors. Other notable features of this home is a fully fenced in back yard and front yard for the pets and privacy, while enjoying your above ground pool. A shed located in the back yard gives ample storage for tools and yard equipment. A unique bonus is an outdoor brick oven situated right by the pool on the back deck, perfect for cooking outdoors when the weather is nice. There is ample parking space in the driveway and a bonus parking area on the side of house, behind the fence, for an RV or boat. The two car garage can function as a parking space, or use it as a fun "man cave" area for games and gathering! This is that waterfront retreat, away from it all, but close enough to get to it all, that you have been waiting for. CALL TODAY!
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.
