Welcome to this well-maintained 3-bedroom, 2-bathroom home nestled in the established Summer Place neighborhood of Fort Walton Beach. Offering over 2,000 square feet of living space on a generously sized lot, this property delivers the combination of space, comfort, and location that is difficult to find in today's market. Inside, the home features a variety of quality flooring throughout. The living room showcases new luxury vinyl plank flooring, offering a clean and modern look that is both stylish and durable. The kitchen and both bathrooms feature classic tile, while all three bedrooms have been updated with new carpet -- making this home truly move-in ready. The interior has also been freshly touched up, presenting a well-cared-for and welcoming atmosphere from the moment you step inside. Adding exceptional value and peace of mind, the seller has agreed to replace both the roof and the hot water heater with an accepted offer -- giving the next owner a worry-free transition into their new home. One of the home's most notable features is its expansive backyard -- a true standout in this price range. The oversized lot provides exceptional outdoor space, whether you envision a pool, a garden, a play area, or simply room to relax and entertain in the Florida sunshine. The generous yard adds privacy and versatility rarely found in comparable properties. The location is just minutes from the shopping, dining, and everyday conveniences along Beal Parkway, with quick access to major roadways connecting you to the best of the Emerald Coast. The stunning Gulf beaches of Fort Walton Beach and Destin are only a short drive away, and Eglin Air Force Base and Hurlburt Field are both conveniently accessible. Underground utilities add to the neighborhood's clean, well-kept character. This is a rare opportunity to own a spacious, updated home with a large lot and significant seller concessions in one of Fort Walton Beach's most centrally located neighborhoods.
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.
