Great, local builder built this home in year 2022! This home features 4 bedrooms, 2 baths, 1866 sq ft. and is located within minutes from some of the top tier schools in the state of Florida, military bases, restaurants, and shopping! This home is zoned for Elementary (Bluewater), Middle School (Ruckel), and High School (Niceville) and is conveniently located to Eglin Air Force Base, 20 to 30 minutes to the stunning, Destin beaches, several minutes to local parks, bayous, and outdoor activities. This craftsman style home features all the luxuries of modern living including an open concept layout! The kitchen features solid wood shaker cabinets, Granite countertops, a stylish 3x6 white subway tiled backsplash, and a very spacious corner pantry. The kitchen island has modern, custom pendant lighting, seats up to four guests, a large granite slab counter top with an undermount sink and has a decorative shiplap wood facade. There are stainless appliances to include a French Door refrigerator, slide in stove and oven, built in microwave, and dishwasher. The custom cabinetry has crown, large brushed nickel hardware, and soft close drawers. The flooring throughout the common areas of the home is Luxury Vinyl Plank flooring. The kitchen opens to the dining room and large living room. The living room has trayed ceilings, recessed lighting and large picturesque windows allowing natural light! The primary bedroom also has trayed ceilings and an ensuite bathroom with a double vanity and large walk in shower with semi frameless glass doors and custom tile. There are two custom mirrors, newer lighting, and a rain head showerhead. The shower is tiled with brick lay format and has a shower niche. The primary bathroom features an large walk in closet with built in shelving. There are three additional bedrooms and a full guest bath. The back porch is covered and a perfect retreat overlooking the fenced, backyard. Grilling under the covered patio is perfect for entertaining. Hot water heater, HVAC, and Roof 2022 year. Insurance will be affordable on this newer home! No flood insurance required. Other exterior features of the home include: gutters, brick and custom wood columns, grey shaker siding, fenced yard, and sprinkler system. Additional interior features include: blinds, crown molding, base molding, modern millwork around windows and doors, and new interior raised panel doors. Buyer to verify all dimensions and information.
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.
