Pulling through the black iron gates, you are welcomed into a private waterfront setting framed by mature palm and magnolia trees. A circular driveway creates a grand arrival while offering ample parking, all set back from the road for a peaceful and secluded feel. Inside, the home opens to a spacious living area designed for connection and entertaining. The kitchen anchors the space with an oversized bar, granite countertops, custom cabinetry with dovetail construction, a KitchenAid gas stove, stainless steel appliances, center island, and walk in pantry. The layout flows seamlessly into the dining area, all positioned to take in the water views. Along the back of the home, large windows and a sunroom create a full wall of natural light overlooking the water. The primary suite is perfectly positioned to wake up to these same views, featuring three large windows and a spa style bathroom with a two person jetted tub, tiled walk in shower with body sprays, dual vanities, and a custom closet. Tile flooring runs throughout the entire home with no carpet, offering both style and ease of maintenance. Additional features include a guest bath, half bath, indoor laundry, and a functional mudroom entry from the garage. Step outside and experience true waterfront living. A private dock extends into the water, creating the perfect place to relax or gather. The backyard is designed for enjoying every season with a pergola, paver patio, fire pit, hot tub, and mature trees that provide natural shade and beauty. With a 2019 roof, 2014 HVAC, hurricane shutters, and thoughtful upgrades throughout, this property offers a rare combination of privacy, functionality, and waterfront lifestyle. Call to schedule your private viewing today.
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.
