per CITY Planning & zoning, can be split to build more homes. Manufactured homes are allowed they must be 20 x 20. one house per lot; keeping in mind the minimum lot width of 50 feet, max impervious area of 80% of the lot, and minimum setbacks (front=20', rear=15', side=7.5'). Without splitting you can have just the current property. There is NO hold on new developments. Where can you find 4.21 acres inside the city limits of Crestview with privacy, mature trees, and room to create your dream retreat? Right here. Tucked away on a rare 4.21-acre parcel in the heart of Crestview -- surrounded by the city, yet offering your own private slice of nature -- this 1968 home is full of character, peaceful country charm, and endless potential. The home has great bones and includes a semi-finished basement with an additional 1,269 sq ft of flexible space and opportunity, but it's ready for renovation and restoration. Whether you choose to update and reimagine the existing home into your own private retreat or tear down and build new, the possibilities here are wide open. The true value lies in the beautiful, unspoiled 4.21 acres -- an incredibly rare find in Crestview with room to roam, dream, and create. The acreage also offers potential opportunities to split the property for additional homesites, future development, or resale possibilities. A small creek runs along the backside of the property, adding to the peaceful natural setting and private wooded feelsetting that feels worlds away while still being conveniently located IN town. Properties like this rarely come available in Crestview. Bring your vision, creativity, and a little TLC to unlock the full potential of this unique property. Shown by appointment only. Property is being sold AS-IS. Photos have been edited to remove Debry and personal items in home
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.
