Situated on a spacious lot in a quiet cul-de-sac in South Crestview, this impressive home offers nearly 4,000 sq ft under roof and an ideal blend of comfort and functionality. Step through the grand foyer into a semi-open floor plan featuring an expansive living room with elevated ceilings and a stunning stone fireplace surround w/ gas insert. The kitchen is beautifully appointed with abundant solid wood cabinetry, granite countertops, stainless steel appliances, and an adjacent formal dining room--perfect for hosting gatherings. Designed with flexibility in mind, the home includes two versatile flex spaces ideal for a home office, playroom, or additional living area. The oversized primary suite is a true retreat, boasting a luxurious en-suite bathroom with a very large walk-in closet, dual vanities, a garden tub, and a separate shower. A thoughtful layout provides direct access from the primary bath to the oversized laundry room for added convenience. Guest bedrooms are generously sized and thoughtfully arranged within a split floor plan for enhanced privacy. Step outside to your private backyard oasis featuring covered patios accessible from both the living room and primary suite--ideal for entertaining or relaxing. Enjoy the sparkling screened-in pool and additional storage with a yard building that conveys as-is. The property also features a sprinkler system with lawn pump AND well (which supplies the sprinkler system only). NEW ROOF AND HVAC in 2021 along with numerous other updates! This South Crestview gem combines space, smart design, and exceptional outdoor living--ready to welcome you home.
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.
