Featured
Featured
1336 River City St, Saint Augustine, FL 32092
4 beds · 2 baths · 1,979 sqft sqft
Rare opportunity to purchase a home with a 2.25% interest rate! Assume this VA loan with Roam and save thousands annually. This beautiful 4-bedroom, 2-bathroom home in Heritage Landing at WGV is loaded with upgrades, including a BRAND-NEW AC unit, solar panels installed in 2021, water heater installed in 2021, new stainless-steel appliances in 2024. and the roof was replaced in 2018. Located on a quiet cul-de-sac, it features an open concept living area with high ceilings, a cozy fireplace, and abundant natural light. The kitchen includes 42' maple cabinets, an island, and a breakfast nook. The primary suite offers a walk-in closet and a large bathroom with dual vanities, a soaking tub, and a separate shower. Enjoy the outdoors on the extended screened-in porch overlooking a private, fenced backyard. With solar panels, you'll benefit from low energy bills and sustainable living. This home is move-in ready and offers unbeatable value!
Source: REALMLS #2039309
You may be able to put down less than the total down payment amount of $173,660 and have the rest of the funds financed with a 2nd mortgage from a lender. 4
Interest rate and monthly payment estimated based on public records.
Source: REALMLS #2039309
Source: Public records
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Whether you have an agent or you’re just starting your search, reach out to us and we’ll help set up a home tour.
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
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.
What is Roam?
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.
What is an assumable mortgage?
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.
Why is an assumable mortgage valuable?
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.
Will an assumption work for me?
An assumption might be a suitable option for you if you meet the lender’s qualifications. We also offer Roam Boost to help buyers reduce the down payment required to a minimum of 5-15%. See below for more FAQs specific to Roam Boost.
Why do buyers use Roam?
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step. Roam helps home buyers find and purchase homes with a low-rate assumable mortgage included. Once you find your dream home, Roam manages the process of assuming a low-interest rate mortgage, helping buyers save thousands a year on mortgage payments compared to buying with a traditional mortgage at today’s rates. On average, buyers who use Roam save $15,000 in mortgage payments annually.
MLS ID: #2039309
Data provided is deemed reliable but is not guaranteed. The data relating to real estate for sale on this website comes in part from the Northeast Florida Multiple Listing Service, Inc. The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed. Copyright © 2024 Northeast Florida Multiple Listing Service, Inc. All Rights Reserved.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.