Searching for a 2-bed condo in Destin FL approved for short-term rental with Gulf views and resort amenities? Residence 2804 at The Palms of Destin offers a fully renovated 8th-floor unit with sunset views over the City of Destin and partial Gulf views. Updated in 2025 and offered at $329,000, this turnkey property also features potential VA-assumable financing at 3.5% for qualified buyers, creating a rare opportunity for investors or second-home owners near Destin beaches. Unit 2804 at The Palms of Destin Resort and Conference Center offers sunset views, modern updates, and strong investment potential in one of Destin's most amenity-rich communities. Located on the 8th floor at 4207 Indian Bayou Trail, this west-facing 2-bedroom, 2-bath condominium features 970 square feet of thoughtfully designed living space with sweeping views across the City of Destin and partial Gulf views in the distance. The interior was fully renovated in 2025 with new flooring, fresh interior paint, updated bedroom furnishings, curated artwork, refreshed kitchenware, balcony furniture, and three smart televisions. The efficient layout supports both vacation stays and short-term rental use while remaining easy to maintain. From the private balcony, owners and guests can enjoy colorful sunset skies over the Destin skyline and a relaxed coastal atmosphere after a day at the beach. Residents and guests enjoy resort-style amenities including a lagoon-style zero-entry pool, expansive sunbathing areas, on-site dining at the Blue Lagoon restaurant, a fitness center, tennis courts, landscaped recreation areas, and a seasonal shuttle service to nearby beaches, restaurants, shopping, and entertainment. Beach access is located directly across the street at June White Decker Public Beach Access on Restaurant Row. Many prefer Henderson Beach State Park, which is also nearby and offers miles of protected shoreline and scenic coastal dunes. Quarterly HOA dues of $3,598.18 include electricity, water, sewer, cable television, internet service, building insurance, security, groundkeeping, management, and recreational facilities. The one-time new buyer fee is $1,199.40 and 2025 property taxes were $2,850.95.
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.
