Experience the best of WATERFRONT living in this spacious and beautifully maintained 5 bedroom home, complete with an oversized BONUS ROOM and nearly 2,800 square feet of thoughtfully designed space. Perfectly positioned on a desirable canal with direct and easy gulf access, this property is ideal for boating, fishing, and embracing the relaxed coastal lifestyle. Step inside to a bright and inviting floor plan featuring an expansive living room that accommodates both daily living and large gatherings. With tons of natural light, water views, and generous open space, it serves as the heart of the home and a natural hub for entertaining. This space also boasts upgraded finishes throughout, enhanced with new recessed lighting creating a warm and open atmosphere. The well-appointed kitchen offers plenty of cabinetry and workspace, making it perfect for preparing meals after a day on the water. Right off the kitchen, you'll find a generous walk-in pantry and laundry area with abundant shelving and organized storage, making daily chores effortless and efficient. This home features 5 FULL bedrooms thoughtfully positioned to offer privacy and comfort for family and guests. Each room is generously sized with upgraded finishes, custom touches, and ample closet space. The LARGE BONUS room offers endless flexibility for a playroom, media space, fitness room, or anything tailored to your needs! Step into the backyard where this home continues to impress! The waterfront setting offers quick and effortless access to open water, ideal for launching your boat or enjoying sunset cruises. A newly built shed provides excellent storage for tools, fishing gear, paddleboards, or seasonal items. This home also features a 500-gallon gas tank, offering reliable fuel capacity without ever leaving your home! This home delivers a rare combination of space, functionality, and premier water access. With its inviting layout, generous storage options, and sought after location right in the middle of town, this property is truly incredible! *All measurements are approximate. Please verify if important.
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.
