Unique floor plan on the 2nd floor of Observation Point South boasting the largest wrap around balcony in the complex with front row seats overlooking the events plaza which hosts spectacular seasonal fireworks shows, concerts, festivals and more. Perfect for entertaining with new patio furniture! This 3 bedroom condo can easily be modified back into a 2-bedroom/Studio lock-off, giving you the opportunity to further enhance your rental revenue potential. The open living space features an L-shaped sectional perfect for an evening movie night. Spend the day cooking your favorite meals using the stainless steel kitchen appliances. The beautifully updated coastal color pallet and decor continue into the third bedroom or studio condo featuring two queen beds, private bathroom, and wine fridge. Observation Point owners have exclusive access to the lushly landscaped amenities terrace featuring a resort style pool, hot tub, fitness center, lawn, and lovely grilling area as well as to the Founders Club, featuring a game room with pool table and bar and a balcony overlooking the events plaza. Just outside your door, the vibrant Village of Baytowne Wharf invites you to enjoy waterfront dining, boutique shopping, and a calendar full of festivals, concerts, and family-friendly events. Grand Boulevard is just minutes away with upscale dining and retail favorites like Emeril's, Fleming's, and Pottery Barn. Sacred Heart Hospital is a short drive from the resort, and Destin-Fort Walton Beach Airport (VPS) is conveniently located just 30 minutes away. As an introduction to the Sandestin lifestyle, we invite our new owners to explore amenities that make Sandestin special. The listing brokerage and seller(s) are presenting the buyer(s) of this property with (2) 90-minute rounds of Tennis court time, a golf foursome at one of our three championship courses, and a round of golf for up to four (4) players at the unrivaled Burnt Pine Golf Club.
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.
