Welcome to your little piece of paradise! Once you step through the front door, the captivating view through the living room bay window will leave you breathless. Not only is this a very well-maintained 2-bedroom, 2 full bath home, but it is also your private getaway. As much as the intoxicating waterfront views beckon you to your private pier, so does the house call you home. Once you walk in, you don't want to leave. This home features a main bedroom with full bath, a secondary bedroom, a large living room, kitchen, a separate dining room with a breakfast bar that doubles for entertaining guests. Spread your party snacks on the bar or use it for extra seating. It has a gorgeous view of the water, and also allows your guests to still join in the fun and conversations. The kitchen has plenty of room and is a cook's dream with the double wall ovens and separate stovetop. There is a large pantry for storing your non-perishables. The hall bathroom is quite large. Laundry room, Florida, or sunroom featuring large windows and sliding glass doors to the patio. This is a remarkable, well-cared-for home that includes a 2-room and bath guest cottage for your overnight guests. The large, beautiful lot features over a half acre in a quiet community. Just imagine you out there on the boat, cruising on the water, breeze in your hair, sun shining down. Perhaps you decide on waterfront dining at one of the nearby restaurants, or just a day of fishing, and when the day is done, you either tie off at your private dock, or you hoist your boat up on your personal boat lift. Pier has electricity and a ladder, and the possibilities of waterfront living are endless. There is so much more here; you need to take a look, and perhaps you may see your waterfront homeownership dreams come true. Low tide mean is 3'. Requests for showings will be taken soon.
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.
