Welcome to this beautifully updated 5-bedroom, 3.5-bathroom waterfront home in Navarre, offering nearly 2,700 square feet of living space on a spacious 0.50-acre lot. This home features two primary suites, offering ultimate flexibility and comfort. A third full bathroom has been added, enhancing convenience for guests or family members. With thoughtful design elements throughout, one of the bedrooms can be easily closed off with a pocket door--creating an expansive suite with two additional closets and a unique layout to suit your lifestyle needs. Tucked away on a quiet dead-end street, this property provides both privacy and stunning water views. Enjoy direct access to the water with your own boat lift (upgraded in 2025), boathouse with utilities, and a private pier. Outdoor living is elevated with a screened-in porch (remodeled in 2024), a gorgeous in-ground pool added in 2023, and a fully re-landscaped backyard. Inside, the home has seen extensive renovations, including new flooring throughout (2021), a freshly painted interior (2025), and a remodeled laundry room/pantry (2024). The kitchen features freshly painted cabinets (2021) and newer appliances including a microwave, stove, and dishwasher (2023), plus a new refrigerator (2025). Functional upgrades include a new downstairs AC unit (2025), new roof (2021), new Leaf Guard gutters (2024), and a dumbwaiter from the first to second floor. Interior spaces have been thoughtfully reconfigured, with a loft converted into a 4th bedroom (2021) and a front living room transformed into a 5th bedroom (2024). The home also boasts a remodeled half bath (2025), an added third full bath (2025), and stylish lighting and ceiling fan updates (2023). Additional highlights include a rebuilt front staircase with modern cable handrails (2023), new washer and dryer (2024), new window screens (2022), a fenced-in yard (2024), and added parking (2021). This exceptional home combines modern comforts with waterfront living.
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.
