Greetings from sunny Gulfport — where the breeze feels softer, the colors feel brighter, and life moves just a little slower. Welcome to your bungalow by the beach. Just one mile from the sparkling waterfront, this circa 1945 “Old Florida” charmer tells a story the moment you arrive. A cozy covered porch sets the scene, and then — that magenta front door. Bright, happy, unforgettable. It swings open to reveal original hardwood floors, plantation shutters, classic wainscoting, mosaic tile accents, and a surprisingly open layout that feels airy and effortless for a home of this era. The living room flows naturally into the kitchen, with space for a full dining table where friends linger a little longer and dinners turn into memories. To one side of the home, you’ll find two inviting bedrooms and a full bath — tucked away and peaceful. On the other side, a step-down bonus room offers flexibility and possibility: home office, media lounge, guest retreat, or even future conversion into a multi-generational suite or income-producing space with the garage. It’s the kind of layout that adapts to your story. Step outside and the mood shifts to lush and green. Bamboo sways in the breeze, mango and palm trees frame the yard, just shy of a ¼-acre lot — a rare find this close to the coast — gives you room to dream big. Boat, RV, pool, gardens, entertaining under the stars… there’s space for it all. No HOA. No CDD. No flood insurance. Just the freedom to live creatively in Gulfport’s beloved Art District. Here, mornings begin with beach walks and salty air. Afternoons are spent wandering galleries and local markets. Evenings bring sunset celebrations on the pier, waterfront dinners, and live music drifting through town. You’re minutes to the marina, boat and kayak launch, and quick access to I-275 — close to downtown St. Pete and the airport, yet still feeling like your own tucked-away coastal escape. A little nostalgic. A little salty. Fully, joyfully Gulfport. Come step inside and feel the sunshine for yourself.
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.
