Welcome to one of the most attractive opportunities in the newer Forest Bay community, perfectly suited for the smart and savvy buyer in today's market. This meticulously cared-for home barely feels lived in. From the moment you step inside, you'll notice the clean, spacious, minimalist layout that today's buyers love. Tray ceilings, recessed lighting, and an open, inviting floor plan create a bright and welcoming space that feels both modern and comfortable. Step outside to enjoy your private backyard retreat featuring a covered patio and a fully enclosed fence, ideal for relaxing evenings, outdoor dining, or letting pets play safely. One of the most unique features of this property is the front yard view. Instead of neighboring homes, you'll enjoy a peaceful wooded backdrop that is not buildable, offering a level of privacy that originally drew the current owners to this home and is increasingly hard to find. Located further back within the neighborhood, the home benefits from reduced traffic and a quieter setting, making it feel tucked away while still being incredibly convenient. Residents of Forest Bay enjoy access to a beautiful community pool and pavilion, perfect for soaking up the Florida sunshine, meeting neighbors, or unwinding after a long day. Commuting is easy with this centrally located neighborhood, providing a short drive to local military bases, Navarre Beach, Pensacola, and Destin. Whether you're heading west toward Pensacola or east toward the Emerald Coast's famous beaches, this location puts everything within reach. Come see why homes in Forest Bay are becoming some of the most talked-about properties in the area. Be sure to watch for upcoming open house dates and times. Flexible closing options are available. Whether you need a quick closing or prefer more time, the sellers are happy to work with the buyer's timeline. Welcome to your new 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.
