Start your New Year in this beautiful like new home! It has all the space you need with over 3,000 square feet of ONE level living space. That's right, this brick beauty offers 5 bedrooms, 3 full bathrooms, a dining room, and a separate office all in a one story home. Step inside to appreciate the inviting open split floorplan with exceptional finishes, neutral color pallet, tile flooring, and fresh new carpet throughout. As you enter through the large front covered porch, you'll discover a flexible space that can serve as a dining area, a home office, or more, the possibilities are endless. A whole second area in addition to the formal dining area is versatile as well with French doors to create a private home office, home theater, playroom, fitness room, you name it. At the rear of the home the private primary suite has access to the back yard, it includes a spacious walk in closet and a bathroom with a large soaking tub, beautifully tiled shower and double vanity. Check out the floorplan to see how the four additional bedrooms are privately located off the main living area and hall. This home was designed with families and entertaining in mind. You will love preparing meals in the gourmet kitchen with designer cabinets, granite countertops, a breakfast bar, and a large island. The kitchen is a true standout, there is cabinet storage for every gadget you can imagine, counter space galore, and an enormous walk in pantry. While in the kitchen you can have a full view of the living room, kitchen nook, and views out back to the covered porch. The entertaining space continues out back to a spacious covered porch and a large fenced in backyard. The backyard is your canvas for your own oasis where there is room for a pool and much more. This location offers the convenience of no HOA, nearby shopping, and a swift commute to Tyndall Air Force Base, Gulf Coast Medical Center, community schools, and surrounding cities. Schedule your viewing today.
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.
