Welcome to this beautifully updated corner-lot home in the desirable Bluewater Bay neighborhood of Meadow Woods, offering unbeatable convenience and coastal living. With easy access to the Mid-Bay Bridge, you can reach the stunning white-sand beaches in under 15 minutes. Shops, A rated schools, and Eglin AFB are all close by, making this an ideal location. Freshly painted inside and out, this home feels bright, clean, and move-in ready. Step inside to soaring ceilings and a welcoming gas fireplace that anchors the spacious Great Room, featuring all-tile flooring for easy maintenance. The kitchen opens to the living area and includes granite countertops, stainless steel appliances, a breakfast bar, and a sunny dining space. A utility room with washer/dryer hookups adds everyday convenience. The main level includes two bedrooms with brand-new natural wood-look LVP flooring and a shared full bath. Upstairs, the private master suite offers a peaceful retreat with its own balcony (recently redone), a double-vanity bath, and a large walk-in shower. A loft area provides flexible space for an office, reading nook, or hobby area. The staircase and master bedroom also feature the newly installed LVP flooring. A door from the kitchen leads to the fully fenced backyard, perfect for pets, play, or outdoor entertaining. Major system updates add peace of mind: Roof replaced in 2020, HVAC in 2017, and gas water heater scheduled to be replaced. This home blends comfort, thoughtful updates, and a prime location -- a fantastic opportunity in Bluewater Bay with no HOA.
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.
