WHO WOULD PREFER 2.25% ASSUMABLE LOAN?! Welcome to 'Magnolia Bay' - a featured property in Robledal Estates.This move-in ready 3 bedroom, 2 bathroom home features an open concept with a large Florida room. Situated on nearly half an acre, this property offers shade from a 30 year-old magnolia tree in greeting, but you are surrounded by lush plantsyear-round. There is no HOA. It's only a voluntary 15 a year if you wish. Located just 10 minutes from Navarre's white sand and easily commutable to Hurlburt & Milton - inquire about the LOW ASSUMABLE VA rate! Upgrades for peace of mind for major maintenance include:2021 Roof replacement2025 HVAC replacement2025 Septic service2017 Water Heater (replacement is optional with acceptable offer if insurance requires it) The expanded paver drive has space for 2 vehicles and an area for your trailer or boat adjacent to the 2 car garage. A large storage shed in the rear offers ample storage and power for the best power tools and projects. Step inside and enjoy a living space filled with natural light, highlighted by tall ceilings and a charming white brick fireplace that centers the room beautifully. Your deep kitchen sink overlooks the living room and out to the Florida room. With walls of windows and a tiled floor, the Florida room's flexible space is perfect for a second living room, playroom, plant haven, or a bright home office. The main bedroom includes a walk-in closet, single sink with extra vanity space, extra large jacuzzi tub, walk-in shower, and a linen closet. Secondary bedrooms are comfortable, bright, and feature double closets. Just a step inside of the garage, the large laundry area is a perfect place to leave sandy flip flops and beach gear before continuing into the main part of the home. In Robledal Estates, we know the one thing money cannot buy is good neighbors. This is one of Navarre's most sought-after communities, known for its winding oak-lined streets and peaceful, walkable atmosphere. Residents love enjoying bike rides, early-morning strolls, and the occasional surprise visit from the neighborhood's famously spotted albino squirrels. There is no required HOA, yet the community maintains a welcomed tradition where residents may contribute voluntarily to help keep the entrance beautifully maintained. Located in a prime position between Fort Walton Beach and Pensacola, commuting is easy in either direction. Navarre Beach is just about 15 minutes away, and the surrounding area continues to grow with new schools, restaurants, and shopping options. This 1994 home has recently been professionally cleaned and is move-in ready. Sip your coffee and enjoy 20 years of landscaping that includes azaleas, wisteria, berry bushes, elephant ears, lilies and more! This is a home with comfort, charm, and a location that's hard to beat. Make your move just in time for the holidays and experience everything Robledal Estates has to offer!
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.
