Beachside opportunity, diamond in the rough and cash only. In the desirable beachside community of Daytona Beach, near the Atlantic Ocean, this two-story, three-bedroom, two-bath home offers exceptional potential for renovation or investment. North of Seabreeze Boulevard on a quiet residential street, the property is close to beach access, local dining, shopping and everyday conveniences, offering the best of coastal living. Full of classic 1970s character and charm, the home features a spacious layout, abundant natural light, and strong indoor-outdoor potential. The interior showcases original hardwood flooring throughout, adding warmth and timeless appeal. A spiral concrete staircase connects the upstairs level directly to the garage, a unique architectural feature rarely found in beachside homes. Enjoy outdoor living with a large walkout upper deck overlooking the yard and mature trees, creating a private, peaceful setting. The main bedroom offers ocean views, enhancing the coastal lifestyle experience. Several windows have been replaced, further improving light, efficiency and comfort throughout the home. Conveniently near Seabreeze High School, the Peggy Schnebly Recreation Center and just a short distance to the beach, this home sits in one of Daytona Beach's established and desirable coastal neighborhoods. Property highlights and updates, roof replaced in 2019, two air-conditioning units, main approximately 2018, secondary 2021, downstairs water heater approximately 6-7 years old, upstairs shower water heater not operational and partial plumbing updates completed in 2022 (under home). Well irrigation system plus city water and sewer. Survey on file. Solar panels installed (assumable financing in place). Low FPL electric approximately $35/month. Multiple windows updated. Additional information, cash only with no financing available, sold strictly as-is, and appointment only with no trespassing. A diamond in the rough, this property offers a rare opportunity in a prime beachside location with strong long-term upside potential for investors, renovators or end users looking to create their ideal coastal home. Concrete block construction underneath wood siding. By appointment only.
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.
