Welcome to Swift Creek, one of the best neighborhoods in Niceville! This custom-built, 4,394-square-foot home sits directly across from the tennis courts and is just a quick walk down the block from the clubhouse, pool, and basketball courts. It features a beautiful Mediterranean style with stucco siding and a classic clay tile roof, but what really sets this place apart is how it was built. The original owners focused heavily on quality where you can't see it. It's constructed with 2x6 exterior walls, heavy-duty 2x10 roof trusses, and solid 5/8'' plywood decking instead of the cheaper OSB you usually find. They also went all-out on energy efficiency and safety, using closed-cell insulation in the attic, open-cell in the walls, and premium Jeld-Wen impact-glass hurricane windows throughout. It's incredibly solid, energy-efficient, and built to last. Inside, the house feels bright, open, and high-end. The kitchen and butler's pantry feature gorgeous granite countertops, high-quality 42'' all-wood cabinets, stainless steel appliances, and a beautiful tile backsplash. You'll notice great architectural details everywhere you look, like the coffered ceiling in the living room and custom tray ceilings in the family room, dining room, master bedroom, and breakfast nook. The main living area is completely wired for surround sound and has a cozy gas fireplace to gather around. The master bathroom is another huge highlight, it's been beautifully updated with a freestanding soaking tub, sleek mirrors, modern gold hardware, and eye-catching tile work. One of the coolest parts of the property is the massive 700-square-foot bonus room (5th Bedroom) above the 3-car garage. Because it's heated and cooled and has its own full bathroom (complete with a shower, vanity, and even a urinal), it makes the perfect man cave, a private home office, or a separate guest suite. Out back, you can look forward to hanging out on the massive 655-square-foot screened lanai, which already has a gas hookup ready for your grill. The backyard is completely private thanks to a 6-foot fence. This property has been extremely well maintained, and the pride of ownership truly shows! Be sure to check out the 360 virtual tour to get a real feel for the layout.
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.
