This ranch style, one level living home was built in 2007 and has a split plan with 3 bedrooms and 2 bathrooms. The great room has vaulted ceilings and beautiful tile floors and looks into the dining room that will seat 6! The kitchen has a vaulted ceiling, solid surface countertops, new dishwasher, stainless appliances and upgraded and updated kitchen cabinets! Right off of the kitchen is a laundry room with cabinets for storage and is large enough for a front loading washer and dryer. The large master bedroom has a private updated bathroom with double vanities and tiled shower and a soaker tub. The master walk in closet has also been upgraded to include a vanity area and mirror. The home has lots of windows and is open and very filled with light! The flooring is tile throughout! The other 2 bedrooms are large also, and one is currently being used as a home office. The bathroom that serves the other two bedrooms is a tub/shower combination. The level, private, fenced back yard has a patio and a huge shade tree for enjoying the outdoors. There is also a sturdy frame for a hammock in the back yard and a fire pit for gatherings with friends or just star gazing in peace and quiet. The 420 Square foot 2 car garage has electric garage door openers and it also has a floored attic space for extra storage. The garage has a 240 volt outlet, and on the outside of the garage is another outlet for an RV. The hot water is housed in the garage and it is new. Across from this home are a couple of lots that have been designated as buffer lots and they will never be built on. There are sidewalks in the neighborhood and there is no HOA! The location is great as this home is 5 minutes from Interstate 95, 15 minutes from Kings Bay, 35 minutes from the beach in Jacksonville, and 30 minutes from Brunswick. This home has so many things that set it apart from all of the others. Come take a look ... this one won't last long!
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.
