One or more photo(s) has been virtually staged. Auction Property. LIST PRICE WAS USED AS A SUGGESTED OPENING BID FOR AN ONLINE AUCTION THAT ENDED ON MAR. 5. Beachside fully furnished 1920s Art Deco/Mediterranean home located in the Seabreeze Historic District on Daytona’s beachside peninsula—between the Halifax River and Atlantic Ocean. The main living space is 3 bedrooms and 2 bathrooms with 1,368± sf under roof and 1,164± sf of living area. There is also a 504± sf guest efficiency with 1 bedroom and 1 bathroom with washer and dryer and separate entrance. Nightly rentals are restricted, but 6–12 month leases are acceptable. City rental registration is required. The owner must occupy one of the spaces part or full time. Both spaces cannot be rental units. There were modern renovations and new roof in 2017–2018± and a 4-ton HVAC replacement in 2023±. Exterior features include a paver driveway and Art Deco front staircase with two built-in benches. Interior features include real wood floors, wood-burning fireplace, open layout, and French doors to patio. The kitchen has a spacious design with flat-top cooktop, stainless steel appliances, and ample cabinetry. The primary suite is bright and airy with double windows, barn-style doors, and full bath with tub and shower. The furnished patio has dual yard access, BBQ grill, and washer/dryer. Seabreeze is an authentic historic neighborhood with character you can’t recreate—true coastal charm with strong long-term appeal. A major main streetscape upgrade is underway: new sidewalks, lighting, landscaping, and improved traffic flow. Close to the beach, fine dining, café’s, nightlife, golf courses, and cultural favorites like the Daytona Playhouse and Hyde Park Prime Steakhouse. This is a 1920s home, so expect some upkeep. It has been closed for two years and needs thorough cleaning. Property #: DG26011. 10% Buyer's Premium.
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.
