Assumable VA loan available to anyone at an exceptional 2.35% interest rate for qualified buyers (468,044 balance through M&T Bank). Plus, the seller is offering $5,000 toward buyer closing costs or concessions--creating a rare financial opportunity in today's market. Located in the highly sought-after Hammock Bay community, this beautifully maintained Truland-built home offers exceptional craftsmanship, thoughtful upgrades, and a highly functional open-concept design ideal for both everyday living and entertaining.Featuring 4 bedrooms (master on the 1st floor), 3 bathrooms, and spacious living areas, this home showcases quality details throughout, including tray ceilings, upgraded hardwood flooring and fixtures, and a seamless layout designed for comfort and style. The chef-ready kitchen serves as the heart of the home with upgraded features: quartz countertops, backsplash, induction stove, under-cabinet lighting, a generous workspace, all opening effortlessly to the main living and dining areas. The downstairs guest bath has been enhanced with an upgraded walk-in shower, adding comfort and convenience for guests or multigenerational living. Built with durable brick and cement exterior construction, this home also offers valuable owner upgrades that elevate both function and long-term value, including a professionally installed generator, custom epoxy garage flooring, built-in cabinetry, and hanging storage systems. Outdoor living is equally inviting with a screened porch, private fenced backyard, enhanced landscaping, and paver accents that create a polished setting for relaxing or entertaining. Set within Hammock Bay -- a 3,000+ acre master-planned community surrounded by preserved wetlands and green space -- residents enjoy resort-style amenities including pools, a clubhouse, fitness center, sports courts, miles of walking and biking trails, and a vibrant Town Center, all just a short drive to the Emerald Coast's white-sand beaches. This move-in ready home offers the perfect combination of quality construction, meaningful upgrades, financial advantage, and lifestyle-driven living in one of Freeport's most desirable communities.
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.
