“The Beach House” is located in the Belle Vista neighborhood with close proximity to the wide sandy beaches of the gulf coast. Deeded beach access and a private neighborhood parking lot are enjoyed by residents of Belle Vista. This complete remodel captures your attention and imagination leaving nothing unfinished. All elements of this home have been meticulously crafted and fashioned to the standards of a very discriminating homeowner who will not settle for a window dressing and lipstick upgrade. This three-bedroom and two bath home show cases an open concept that is filled with custom built-ins such as a coffee bar/beverage center, dining area with a bankette and shelving to display your personal decor. High end Bosch appliances featuring a gas cook top and electric double oven are complemented by a hidden drawer microwave. A reverse osmosis water purification system makes cooking natural and pristine. A large island creates a focal point between the kitchen and living area for family and friends to gather. Ceramic tile flooring is installed throughout the home. The primary suite has a generous custom bath and linen storage and a large double sink vanity. There are two spacious guest bedrooms each equipped with a mini-split A/C unit. One guest bedroom houses a custom built-in workspace making this a potential home office. A full laundry room is appointed with cabinetry, shelving and a sink for ease and convenience. A luxury full bath equipped with space for linens and towels and much more distinguishes this home from other listings. Complete and sweeping electrical and plumbing upgrades are capped by recessed lighting and dimmers throughout every room in the house. A climate-controlled garage allows comfortable access to vehicles. A separate entryway leads to an expansive paver patio that is ideal for grilling and outside gatherings. The air handler, tankless water heater and water softening system are completely enclosed in a separate room housed in the garage. Custom shelving in the garage and workspace provide ample storage and a place for carpentry or crafts. The front exterior of this home has a wide covered porch and a dual entry driveway with space for up to 8 vehicles. Meticulous landscaping completes the front while iron gates open to lead you around the home to an extensive back yard. A buried 500-gallon propane tank amply supplies the cooktop and tankless water heater and can be connected to an outdoor kitchen. Outdoor lighting and an irrigation system in both the front and back yards enable you to keep your beach house oasis lush and illuminated. The security system will convey with this home.
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.
