Adorable, meticulously maintained 3-bedroom, 2-bath ranch bungalow offering easy single-level living with no steps on 1.3+ acres of serene, private land just minutes from downtown Brevard. This bright and inviting home features an open, accommodating floor plan flooded with natural light. You'll appreciate the transferable warranty on the newly installed windows, plus tile flooring in the main living areas, kitchen, bathrooms, and laundry, with carpet in the bedrooms. The kitchen shines with granite countertops and stainless steel appliances. The spacious primary suite is a true highlight, featuring a private exit directly to the back patio for peaceful outdoor access, along with a handicap-accessible shower complete with built-in seating for added comfort and convenience. Additional updates include a high-efficiency HEPA HVAC system (with a transferable maintenance schedule), updated septic system, newer gutters, and a propane tank rental paid through April 2027. Outside, enjoy expansive outdoor living spaces perfect for relaxation and entertaining, including a horseshoe pit and a dedicated grilling area with a solid picnic table that conveys with the property. The large, level yard is fully fenced with an electric fence system—ideal for pets or added peace of mind—while beautiful landscaping and paved walkways complete this private retreat. Additional features include a separate workshop, ample parking, a circular drive with custom gate, 30-amp RV hookup, and easy access. Zoned residential with no city taxes, this prime location is just down from Brevard High School and conveniently close to downtown Brevard, yet remains outside city limits—offering the best of both worlds in a highly desirable area. Select furniture pieces may convey with an acceptable offer, offering a move-in ready opportunity. A peaceful sanctuary and a true must-see!!
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.
