Back on the market with extremely motivated sellers, and open to creative financing. Looking for a place that feels like home and checks all the boxes for location, privacy, and charm? This 3-bedroom, 2-bathroom home in Mary Esther is ready to welcome you in. Tucked just minutes from Hurlburt Field, the beach, and everyday essentials this property is perfect for anyone looking for a convenient commute and a peaceful space to call their own.Step inside and you're greeted by unique original details like all-brick entryway flooring and a cozy wood-burning fireplace -- balanced with modern updates that make daily living easy. The kitchen features stainless steel appliances and a view of your fenced backyard, where mature trees and fresh mulch beds offer privacy and outdoor potent Enjoy your morning coffee or wind down in the evenings in the screened-in patio, now updated with brand-new screens for added comfort. The layout flows easily with two bedrooms and a full bath down the hall, and a spacious primary suite that includes its own private bathroom and walk-in closet. There's also a large laundry room with extra storage and direct access to the driveway convenient and functional. And don't miss the bonus structure in the backyard currently used for storage, it includes a finished upstairs room with flooring and a window unit. With a little creativity, it could easily become a studio, workshop, or private retreat. Whether you're just starting out or looking to put your personal touch on a well-loved space, this home offers a solid foundation and a great location to build on. Don't miss out reach out today to schedule your showing.
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.
