Coastal living awaits you with this sophisticated home. A stunningly remodeled 3BR/2BA home in the heart of Mary Esther. The idyllic landscaping leads you to the home’s attractive entry. Here is where you will find everything you’ve been dreaming of! Featuring a warm and welcoming living room that provides a relaxed feel with its impressive fireplace and fine finishings. Complimenting the living room is the chic kitchen displaying modern cabinetry finished in a very attractive color with tastefully chosen pulls and a convenient pantry. The tile backsplash pairs beautifully with the warmth of the authentic butcher block countertop. Tying the kitchen and dining area together is an ideally placed kitchen bar perfect for entertaining! This home has all-new highly desirable luxury vinyl plank flooring throughout the open living areas. The spacious master bedroom shows off beautiful cathedral ceilings and its large expansive window provides ample natural light, which elicits a relaxing feel. Your eye will be naturally drawn to the beautiful contemporary sliding barn door that leads to the complimenting master bathroom. This master bathroom showcases a gorgeous euro style vanity and a highly desirable oversized custom tile shower built for two. The master suite is separated from the other sleeping quarters, yielding that important quality of privacy for the owners. The entire property has beautiful mature trees with plenty of green foliage. When the sun is up, you can feel yourself relaxing on your own open air patio in your private backyard. Just imagine enjoying the fresh breeze blowing in from across the Gulf with the peace and serenity of Florida living at its best! This rare find even includes a fresh garage complete with a newly refinished floor. This gem of a home has it all, new lighting fixtures, new plumbing fixtures, new kitchen appliances, a brand new water heater, brand new luxury flooring! You don't want to miss out on this home, it could be the one!
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.
