Welcome to an exceptional opportunity in the heart of Fort Walton Beach, a coastal community that is experiencing meaningful revitalization. Whether you are seeking a primary residence, a second home near the water, or an investment property, this well-maintained condominium offers a rare combination of location, flexibility, and lifestyle. Located just moments from the Santa Rosa Sound, this second floor residence with elevator access places you within easy reach of some of Fort Walton Beach's most beloved local spots. Walk or bike to Publix, the public library, waterfront parks, pickleball courts, live music venues, breweries, and popular dining destinations. The area is known for its laid back coastal energy and central location, making it easy to enjoy everything from sunset strolls along the sound to an evening out with friends. Inside, the layout is thoughtfully designed and surprisingly efficient for the square footage. Two guest bedrooms are positioned at the front of the home, while the private primary suite is tucked quietly at the back. The primary bath features double vanities and a walk in shower, creating a comfortable retreat after a day at the beach or on the water. Natural light welcomes you the moment you enter, drawing your eye toward the covered back porch where you can relax and enjoy the coastal breeze. The kitchen has received a stylish refresh that blends functionality with a clean coastal feel. Updates include a new refrigerator, new stove and range hood, refinished cabinetry with updated hardware, tile backsplash, and granite countertops. Additional improvements throughout the home include new carpet in the bedrooms, upgraded ceiling fans in every room, crown molding throughout, and fresh interior and exterior paint. The washer and dryer are included, adding convenience for everyday living or guest stays. Practical upgrades add peace of mind as well. The unit features a brand new 2026 water heater, and the building itself offers durable construction with a metal roof. Residents also benefit from a community fitness room with a newly installed HVAC system, a pergola covered parking area, and an owner's storage closet, ideal for beach gear or recreational equipment. For qualified buyers with VA eligibility, the property also offers the rare opportunity to assume the existing VA loan at 4.38% interest with less than 25 years remaining. Monthly rentals are permitted, creating a unique opportunity for owners who want the freedom to enjoy the property while also benefiting from income potential. Low-maintenance living, coastal access, and an exciting location near the sound make this property a compelling option for buyers who value lifestyle, convenience, and long-term potential in Fort Walton Beach. Please call for video tour!
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.
