LOW ASSUMABLE VA LOAN!! This delightful 4-bedroom, 3-bathroom POOL home offers a spacious 2,304 square feet of living space in Gulf Breeze, perfect for families or those who love to entertain. As you enter the home, you'll be greeted by an open floor plan that seamlessly blends comfort with style. The luxury vinyl plank flooring and shiplap walls add a touch of coastal flair, while the enclosed office with a sliding barn door provides a quiet space for work or study. The kitchen is a culinary enthusiast's dream, boasting granite countertops, crisp white cabinets, and gleaming stainless steel appliances. Whether you're whipping up a quick breakfast in the cozy nook or preparing a gourmet meal at the island, this kitchen has you covered. The primary bedroom is a true retreat, featuring an ensuite bath with a double vanity, walk-in closet with custom shelving, stand-up shower, and a garden tub that's practically begging for a bubble bath and a glass of wine. Outside, the inground saltwater pool is perfect for those hot Florida days. The fenced-in yard provides privacy and peace of mind, while the exterior Hardie board siding offers durability and low maintenance. And for all you car enthusiasts (or just those with a lot of stuff), there's a spacious 3-car garage. There is also a sprinkler system and well to make yard maintenance a breeze!! Located just a short distance from local attractions, you'll find the Lighthouse Private Christian Academy, Soundside Public Beach, and the Gulf Breeze Zoo nearby. Imagine spending your weekends alternating between beach days and animal adventures! This home isn't just about looks – it's practical too. With a termite bond in place, you can rest easy knowing your investment is protected. And let's not forget the charming front porch – the perfect spot for sipping sweet tea and waving to neighbors. So, if you're looking for a home that combines style, comfort, and a dash of coastal charm, look no further!! This is it!
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.
