CUSTOM BRICK COLONIAL WITH BAYVIEWS.. NOW AVAILABLE .. and this one boasts MANY THOUGHTFUL UPDATES for added comfort AND SITS BESIDE PROTECTED EGLIN WOODLAND! Did I mention MANCAVE.. SHE-SHED... GOURMET KITCHEN... FRUIT TREES... BERRY BUSHES... AND GINGER? #KeepReading Welcome to 328 Chippewa Drive! This SPRAWLING 3 BEDROOM/2 BATH floorplan features quality brick masonry with upgrades and embellishments... to include HERRINGBONE BRICKED ENTRY WITH STATELY COLUMNS and BRICK-ADORNED WINDOWS AND DOORS! Step through CUSTOM ETCHED-GLASS FRONT ENTRY CROWNED BY ARCHED PALLADIAN TRANSOM... into elevated ceilings with recessed crown, neutral paint, travertine flooring, designer lighting and solid wood moldings and trim. NEW WINDOWS flood the open-concept living/dining space with light... while the COLONIAL BRICK FIREPLACE adds warmth and serves as the room's focal point. Now let's talk GOURMET KITCHEN! Inspired by the emerald waters this area is known for, the custom wood cabinetry with accent lighting displays 2 colors indicative of sand and sea. The owner added granite counters and stained 'driftwood-inspired' counters... as well as soft-close drawers (to include deep drawers for pots/pans)... and an entire wall of cabinets to showcase heirloom dishes or whatever your heart desires. There are 2 pantries, breakfast room, breakfast bar... and as previously mentioned formal dining space. **SEE MORE.... The Master Suite is private, spacious and boasts a custom master bath with oversized soaker tub and wood tile surround, walk-in shower built for 2, and expansive solid surface vanity with 2 sinks. The guest bedrooms are carpeted with custom blinds, spacious closets, neutral paint, and share a guest bath with one of my upgrades in the home--- CUSTOM TILED WALK-IN SHOWER WITH IRIDESCENT BLUE TILE THAT REFLECTS DIFFERENT SHADES OF THE SEA. Pictures do not do it justice! Outside you'll find a SCREENED BRICK LANAI... COVERED PATIO for grilling/entertaining... SHE-SHED/PLAYHOUSE... MANCAVE/WORKSHOP... and fully-fenced gardener's dream with elderberry, loquat, multiple blueberry bushes, 2 varieties of ginger, mimosa, confederate rose and so much more! Other notable mentions: County taxes, bayfront activities and close proximity to Destin and the base! This one is priced below value for quick contract! Better hurry!
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.
