Back on the market through no fault of seller nor issue with inspection or appraisal. Welcome to 4242 Skipjack Cove, a beautifully maintained and upgraded townhome in the highly desirable Marina Landing section of Bluewater Bay, offering the perfect blend of low-maintenance coastal living and resort-style community conveniences. This 3-bed, 3-bath home features an open and inviting floor plan with ample natural light. Recent updates provide peace of mind and include a new roof installed in 2022, a new electric water heater in 2025, and HVAC units installed in 2018, with new ductwork and refreshed grills on the first floor in 2025 -- all designed for comfort, efficiency, and long-term value. The exterior landscaping is conveniently maintained by the HOA. Those fees include yard maintenance, annual palm tree trimming, and brand-new front yard sod to be installed this year, ensuring eye-catching curb appeal with minimal effort on your part. The private, gated and fenced backyard offers a secure outdoor space for pets, play, or al fresco entertaining -- a rare find in townhome living. Bluewater Bay is a master-planned community with a host of recreational offerings (with memberships or applicable fees), including tennis and pickleball courts at the Bluewater Bay Tennis Center, multiple swimming pools, and an 18-hole golf course just minutes away. For water lovers and outdoor dining enthusiasts, a natural cove marina with a restaurant and bar -- the vibrant Bluewater Bay Marina and L.J. Schooners Dockside Restaurant -- is located less than a half-mile from your doorstep, perfect for boating, sunsets, and social evenings by the water. Conveniently located within easy reach of beaches, shopping, restaurants, excellent schools, and Eglin Air Force Base, 4242 Skipjack Cove offers an exceptional lifestyle where everyday living feels like a vacation.
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.
