72 Hour Kick-Out Clause in effect.**Seller Financing Possible**ESCAPE TO PARADISE (And Your In-Laws Can't Find You Here!)Welcome to your slice of Destin heaven, where the only thing more stunning than the sugar-white sand beaches is your investment portfolio after buying this money-making machine!This gorgeous 2-story, 3-bedroom, 2-bathroom beach house doesn't just come with deeded beach access - it comes with a guarantee that you'll forget what day it is (in the best possible way). With TWO living areas, there's plenty of space for Uncle Bob to watch his fishing shows while the kids binge cartoons, and you finally get to read that book that's been collecting dust since 2019. 3 bedrooms (because someone's got to sleep somewhere between beach naps) 2 full bathrooms (no more sand-between-the-toes bathroom lines!) 2-car garage (for all your beach toys and that inflatable flamingo you'll definitely use) Fully fenced yard (keeps the good vibes in, nosy neighbors out) Gated community (fancy! Your mom will be impressed) Community pool (for when the ocean feels too... oceany) THE CHERRY ON TOP: This beauty isn't just a vacation home - it's a vacation RENTAL ROCKSTAR! Books like hotcakes, rents like a dream, and practically pays for itself while you sip margaritas and debate whether flip-flops count as formal wear. Located in a prestigious gated community where the biggest decision you'll make is whether to hit the beach or the pool first (tough life, we know). The deeded beach access means you're not just buying a house - you're buying a front-row seat to the world's most beautiful sunsets, complete with complimentary dolphin shows and the occasional pelican comedy hour. Perfect for families, friend groups, or anyone who's ever looked at their office cubicle and thought, "There's got to be a better way to live." Warning: Side effects may include uncontrollable relaxation, an addiction to Gulf Coast sunsets, and the sudden urge to quit your day job and become a professional beach bum. Ready to make some waves? This slice of paradise won't last long - book your showing before someone else beats you to your own personal piece of the Emerald Coast!
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.
