Located in the heart of downtown Gulfport, this picture-perfect 21st century Key West-style elevated home offers something exceptionally hard to find: over 1,300 square feet of versatile enclosed space beneath the home, in addition to the main living area. The expansive lower level features a newly refinished 729-square-foot garage with brand-new walls, flood vents, epoxy floors, hurricane-rated windows, and automatic garage door openers. With room for vehicles, golf carts, kayaks, paddleboards, bicycles, and more, this space is ideal for anyone seeking exceptional storage and flexibility. Also on the lower level is a substantial 621-square-foot unconditioned bonus room, offering endless possibilities as a workshop, art studio, fitness area, hobby room, or additional storage space. A custom wood gate welcomes you into a large, ultra-private courtyard filled with tropical plantings, creating a serene setting that perfectly complements the home's coastal character. Surrounded by masonry walls, this inviting outdoor space leads to the staircase up to the main living level. Upstairs, an open floor plan connects the living, dining, and kitchen areas, all enhanced by vaulted ceilings and easy-care laminate flooring throughout. The kitchen features ample cabinetry, stone countertops, stainless steel appliances, and a center island ideal for cooking, gathering, and entertaining. The spacious living room offers soaring ceilings and sliding doors that open to an expansive covered balcony. Designed with a split-bedroom layout, the home features two bedrooms and two bathrooms. The primary suite includes a large walk-in closet, an en suite bath with double sinks, a separate tub and shower, and private access to the balcony. The second bedroom is tucked away on the opposite side of the home and also offers vaulted ceilings and a generous walk-in closet. The 35-foot covered balcony spans the entire south side of the home, overlooking the courtyard below and providing the perfect place to relax or entertain. Outside, the expansive courtyard is an entertainer's dream, complete with a 28-foot covered patio and surrounded by lush tropical landscaping. The property also features alley access to the garage and a four-car off-street parking pad in front. The front yard is thoughtfully designed with xeriscaping and Florida-friendly plants, complemented by a drip irrigation system for easy, low-maintenance care. All of this is just steps from downtown Gulfport's shops, restaurants, waterfront, fishing pier, festivals, and vibrant community events. All room measurements are approximate and should be verified by Buyer.
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.
