Set along the picturesque waters of Boca Ciega Bay is the coveted community of Marina Bay - a 60-acre tropical oasis nestled among Bayview Isles, Eckerd College, and Tierra Verde - where you will discover the artistic masterpiece of coastal living that is 21 Crescent Place. This 2000 square-foot, 3-bedroom, 2-bath residence offers a serene water view of the Bay with a private marina just steps away. The property is designed with exceptional flow, abundant light, and a seamless blend of indoor and outdoor spaces. This elevated, one-level home, complete with a private elevator and a whole-house natural gas 22kW GENERAC generator, offers luxurious seaside living with absolute peace of mind. Step inside to admire beautifully restored light oak floors and the exquisitely remodeled (2024) open-concept interior, where natural light and picturesque water views fill the space. Custom features, luxury finishes, and exceptional details abound, including bespoke lighting throughout, oversized windows, crown molding, and a modern staircase with stainless steel balusters. The heart of the home is the newly designed gourmet kitchen, equipped with smart-enabled appliances, a gas cooktop, custom cabinetry, an electronics drawer, quartz countertops, and a breathtaking waterfall island, making it a culinary enthusiast's paradise. Retreat to the owners' suite, a private sanctuary featuring built-in custom storage and a spa-like ensuite bath with a double vanity, a spacious tiled walk-in shower, and modern jetted soaking tub. Two additional bedrooms and a fully remodeled bath with a walk-in shower offer ample space for guests or family. All living spaces are on one level, served by a private elevator with access to the expansive 2,000 sq. ft., 4-car garage—perfect for vehicles, recreational equipment, a workshop, gym, or game room. The garage, complete with sink, is presently outfitted with a vintage darkroom, showcasing not only the versatility of the space but the owners’ artistic flair. Additional upgrades to the property include impact windows, a new tile roof (2021), a tankless hot water heater, mini-split in garage and whole house HVAC (2024). In addition to the lush tropical trees and plants surrounding the property, the landscaping and numerous lakes throughout Marina Bay enhance the beauty of this home. Watch osprey, herons, egrets, ibis, and ducks, along with pelicans diving for fish and dolphins and manatees playing in Boca Ciega Bay beside the community’s deep-water marina. Additional amenities include two pools (one with geothermal heat for year-round swimming), two spas, a fitness center, a community clubhouse, and a fishing pier adjacent to the docks. Marina Bay is a pet-friendly community, just 10 minutes from downtown St. Pete, 25 minutes from Tampa Airport, and a short bike ride along the protected bike paths of Pinellas Trail to Pass-a-Grille and St. Pete Beach. Deep water boat slips are available for purchase.
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.
