Welcome to 5 Rippling Place. Back on the market after under contract within 24 hours on MLS! Buyer financing fell through. Don't miss out on this impeccably updated single-family home nestled on a peaceful, wooded lot in the heart of Palm Coast. This spacious residence offers 4 bedrooms, 2 bathrooms, a versatile den, and an abundance of living space, including both a living room and a great room, making it perfect for entertaining or relaxing with family. Step inside to find brand-new flooring throughout, installed by Starks Carpet One—luxury vinyl plank in the main living areas and plush carpet in the bedrooms. The fully remodeled kitchen by AW Custom Kitchens features granite countertops and modern cabinetry, offering both beauty and functionality. Both bathrooms have been upgraded with new WestShore Homes showers, and every space is enhanced by new lighting and ceiling fans with remotes, creating a fresh, inviting atmosphere. The home’s exterior is equally impressive, with a new fence and gated entry, tree removal with permit and upgraded insulated glass in the arched living room window. Enjoy resort-style living in your screened-in, in-ground pool featuring a waterfall feature and color-changing light. The pool can be used as a chlorine or saltwater system—the setup is already installed—and is serviced weekly for your convenience. The patio and pool area are perfect for gatherings, while the two sheds (one large with electricity, one smaller for storage) provide ample space for hobbies or tools. Recent upgrades and appliances include:54-bottle stainless steel wine chiller (4 yrs old) LG Smart Wi-Fi Convection Oven Range with AirFry (4 yrs old) Whirlpool side-by-side refrigerator with ice & water dispenser (6 months old) Maytag front-load washer & dryer (2 yrs old) Water heater (2.5yrs old) HVAC Unit 1 (new in 2022, serviced regularly) and Unit 2 (10 yrs old, excellent condition) With over $100,000 in upgrades and renovations, this home offers unparalleled comfort, style, and peace of mind. Don’t miss your opportunity to own this move-in ready Palm Coast gem—where modern luxury meets natural tranquility.
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.
