Gorgeous property with two ponds and 1.97 Acres with a stocked pond with Bass, Bluegill Brim, and shell crackers in Crestview, FL. This 5 bedroom and 1 bath home sits far back from the road down a nice long driveway. There are two ponds. The upper pond in spring fed and the lower pond has fish! The lot is very private, secluded, and quiet. Forget living in a crowed zero lot line subdivision when you can live on a two acre property!! The roof was replaced and the hot water heater is approximately 2 years old. The exterior of the home has brick veneer and vinyl siding. There is a covered front porch and an open back porch! The inside is like a Colorado cabin! There is an open floor plan with the kitchen and dining room opening to the living room. The kitchen has tile flooring, stainless and black appliances to include a slide in oven an stove and a side by side refrigerator with icemaker. The dining room does have French Doors leading to an open patio. Three of the bedrooms and one bathroom was remodeled! The bedrooms have ceilings fans and carpet an stained wood trim and doors. The hall bath is extra wide and spacious and has a tiled shower surround, newer tub, faucet and fixtures. The vanity has been updated and the hardware. There are additional guest bedrooms and a spacious laundry room. The land is just gorgeous! There is a shed for tools! The lot is cleared and also has beautiful vegetation! There is a covered pole barn or carport. The home owner replaced some interior and exterior doors, painted, and updated the home! Buyer to verify all dimensions and information!
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.
