Welcome to 306 Broadway, an exceptional Southend retreat ideally positioned on expansive double lots in St. Simons Heights, just moments from the beach. Tucked behind a private gated entrance, this Cape Cod-inspired residence blends classic coastal charm with elevated design and modern functionality under the oaks. Inside, rich oak flooring sets the tone, guiding you through a refined foyer into an elegant dining space complete with a sleek wine bar and cooler-perfect for effortless entertaining. The main living area impresses with dramatic 17-21 ft. vaulted ceilings featuring tongue-and-groove detailing, while two wood-burning fireplaces create warm, inviting spaces to gather. The light-filled great room flows seamlessly into a spacious kitchen and keeping area designed for both everyday living and hosting among the chef's kitchen! The primary suite, located on the main level, offers peaceful views of the pool and a spa-like bath finished with marble flooring, a cast iron soaking tub, oversized walk-in shower, dual vanities, and generous closets with room to customize. A guest suite is also conveniently located downstairs, while the upper level features two additional bedrooms, two full baths, and a versatile bonus room with abundant storage throughout which could serve as a oversized large 5th bedroom. Step outside to a thoughtfully designed outdoor oasis. The 14x26 Gunite saltwater pool serves as the centerpiece, complemented by a gas fire pit with starter-ideal for coastal evenings under the stars. A deep well irrigation system keeps the lush landscaping vibrant, while the fully fenced and gated grounds provide both privacy and peace of mind. The exterior showcases timeless cedar shake and tabby accents, along with inviting front and rear porches perfect for relaxing or entertaining. Additional highlights include solid wood doors, a tankless water heater, and a 16 kW generator for added efficiency and security, plantation shutters, and so much more. 306 Broadway is a rare offering-where thoughtful craftsmanship, luxury finishes, and effortless coastal living come together in one unforgettable home. No HOA and flood insurance is $996 annually.
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.
