**BACK ON MARKET - BUYER FINANCING FELL THROUGH**Welcome to your COASTAL OASIS nestled on the highly sought after Silver Sands area of New Smyrna Beach (NSB), just a few blocks away from New Smyrna Beach’s premier No-Drive Beach! This custom built and immaculately maintained MOVE-IN READY TWO STORY 2-BEDROOM 2-BATHROOM HOME with a LOFT features a single-car garage and a charming floorplan with vaulted ceilings and an abundance of natural light. The kitchen showcases beautiful wood cabinetry, stainless steel appliances, a center island, and plenty of counter space, with a dining nook overlooking the front yard. The primary bedroom is conveniently located on the first floor with a serene view of the outdoor space. The living room is spacious and features a timeless design accented by parallel ceiling beams, oversized windows, and a gorgeous solid oak spiral staircase that leads to a cozy loft and a bedroom with an updated ENSUITE bathroom and a private entrance from the side of the home – ideal for guests and extended family. Adjacent to the living room is a versatile BONUS ROOM that can be used as an office, a studio, a gym, or a sunroom. Outside, you’ll find a fully fenced oversized backyard with plenty of room to add a patio, a pool, an outdoor kitchen, and playground. Enjoy stress-free living with these major updates: 2025 ROOF, 2025 Exterior Painting, 2022 A/C, 2021 Septic Drainfield, 2022-2024 Appliances (microwave, dishwasher, range, refrigerator and garage refrigerator). With a premium location, situated on a quiet beachside neighborhood, within .13 miles to Hiles Boulevard Boat Ramp (small boats and canoes), 4.26 miles to Canaveral National Seashore (North Ent), 3.2 miles to Publix, and with easy access to numerous shopping, dining, and entertainment options at the iconic Flagler Ave. and the vibrant Canal Street, this home is perfect as your primary residence, second home, or investment property. With all that it has to offer… beaches, arts and culture, history, tours, and family fun… everyday is a vacation! Schedule your private showing today! **This house comes with a REDUCED RATE through the seller's preferred lender. This is a lender-paid rate buydown that reduces the buyer's interest rate and monthly payment.**
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.
