Welcome to Coastal Woods, where modern sophistication meets effortless coastal living. Built in 2020, this single-story home immediately impresses with custom color-matched concrete landscape curbing and premium river rock beds framing the front facade. Inside, the 1,846-square-foot open-concept layout is enhanced by custom interior trim carpentry and crown molding throughout the main living areas. Premium custom motorized blinds on the rear sliding glass door provide effortless control of privacy and natural light. The kitchen overlooks the central living space and includes all major appliances, highlighted by a newly updated microwave. High-capacity laundry appliances are also included, and the home may be purchased fully furnished, offering exceptional turnkey convenience for a primary residence or seasonal retreat. The primary suite and guest bedrooms are generously sized, while additional upgrades continue into the garage, featuring premium Shark Coating epoxy floors and a professionally installed Tesla EV charging station. Ideally positioned on one of the community’s most desirable lots, the property backs directly to Coastal Woods’ premier amenities, placing the pool, playground, and pickleball courts just steps away. The expansive yard was fully resodded two years ago and provides ample outdoor living potential. HOA guidelines also permit the installation of classic white vinyl fencing. Additional peace-of-mind features include an active 10-year termite treatment bond, last inspected in February 2024, public utility connections, and a location outside of special flood hazard zones. Combining premium upgrades with an unbeatable location in New Smyrna Beach, this home offers an elevated lifestyle within Coastal Woods.
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.
