Gorgeous home in the sought-after waterfront community of Waters Edge on Niceville's Rocky Bayou. This intimate neighborhood offers private access to the bayou, a community dock, and kayak storage -- perfect for enjoying the coastal lifestyle.Built by renowned Randy Wise Builders, this beautifully crafted home showcases their signature quality and attention to detail. Throughout the home, you'll find craftsman-style cased openings, crown molding, picture-frame windows, and neutral paint colors .The spacious layout includes five bedrooms plus a dedicated office. The main floor features an open-concept design ideal for entertaining, with a large living room with a brick feature wall and dining area flowing seamlessly into the chef's kitchen. The kitchen boasts an abundance of shaker- style cabinetry, quartz countertops, a large island, built-in desk area, and stainless appliances including a drop-in gas cooktop, built-in oven and microwave, dishwasher, and refrigerator. Tucked privately at the rear of the home, the primary suite is a relaxing retreat with a spa-like ensuite bath featuring a barn door, freestanding soaking tub, separate walk-in shower, and double vanity. The spacious walk-in closet offers convenient access from both the bathroom and hallway. The main living areas and bedrooms feature wood flooring, with tile in select areas. The office includes built-in bookcases, a closet, and even a custom pet crate tucked neatly under the stairs. An additional suite completes the main floor. Upstairs, you'll find three generously sized bedrooms, a shared bathroom, and walk-in attic storage. Step outside to enjoy the screened porch overlooking the patio and fenced backyard, which backs to a wooded area for added privacy. The patio is plumbed for natural gas (perfect for grilling), and the backyard is also wired for a future hot tub. Additional highlights include , oversized two-and-a-half-car garage with epoxy-coated floors and dual garage doors, plus the added peace of mind of a whole-house generator. --
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.
