Welcome to this delightfully maintained two-story home nestled in the highly desirable Elliott Point neighborhood-- a charming golf cart community minutes from eclectic restaurants, a vibrant downtown, and world famous beaches! Situated on a spacious corner lot of over a quarter acre with a huge backyard, this home is just moments from the Walkedge boat launch-- balancing peaceful living with quick access to shopping, nightlife, and the gorgeous Florida coastline.From the moment you arrive, you'll notice the inviting curb appeal, mature landscaping, and sense of open space that only a corner lot provides. Inside, the home opens into a warm and functional layout designed for both everyday living and gathering. The main living area features a gas fireplace that seamlessly flows into a bright, updated kitchen complete with granite countertops, stainless steel appliances, an oversized refrigerator and a large island-- perfect for family meals or entertaining guests. With 4 bedrooms and 3.5 bathrooms, there is room to grow, host, and enjoy life. Step outside and you'll quickly realize this backyard is something special. The saltwater pool, enclosed patio, and fire pit area create the perfect setting for relaxing evenings, weekend barbecues, and unforgettable time with family and friends. Built in 2015 and thoughtfully updated with upstairs spray foam insulation and new HVAC system, this home blends modern construction with a true sense of character and warmth. As the Brooks Bridge replacement project advances and downtown Fort Walton Beach expands, this neighborhood will become even more exclusive-- secure this lovely home today and embrace the best of Florida living
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.
