Beautifully maintained and move-in ready, this one-owner home sits on a spacious .34-acre lot with NO HOA fees or restrictions and features an impressive 18x22 insulated pole barn/workshop with power, loft storage, and an 8-foot roll-up door. Offering the freedom and flexibility you've been looking for, this property has been thoughtfully improved over the years and includes durable Hardie siding, privacy fencing along the side yards, and extensive drainage enhancements for added peace of mind. Inside, you'll find fresh interior paint and a new HVAC system with a Nest thermostat for modern comfort and efficiency. All appliances convey, including the washer and dryer, providing added convenience for the next owner. Step outside and enjoy the expanded outdoor living space complete with a fire pit area and additional paver patio space perfect for a future pergola, entertaining, or relaxing evenings at home. The extended paver driveway and walkways add both curb appeal and convenience while creating seamless access throughout the property. The detached workshop is ideal for hobbies, storage, equipment, recreational vehicles, or a home-based business setup. An additional 20x20 concrete pad provides even more versatility and usable outdoor space. Custom-fit storm panels are available for all windows, offering added storm protection and peace of mind. This property truly has it all-space, functionality, thoughtful upgrades, and exceptional pride of ownership both inside and out. Don't miss your opportunity to own this unique property with room to live, work, and play without HOA restrictions! Conveniently located in DeFuniak Springs, this property offers easy access to everything you need while still providing space and privacy. Downtown DeFuniak Springs, Baldwin Avenue shopping, dining, and Main Street attractions are all less than 5 minutes away. Crestview is less than 25 miles away, while the world-renowned beaches of 30A are just over 30 miles from your doorstep. Outdoor enthusiasts will appreciate being only 3 miles from Lake Stanley Park, with additional parks, recreational opportunities, shopping, dining, and everyday conveniences all nearby.
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.
