16207 Sky Ave, Panama City Beach, FL 32413
4 beds · 3 baths · 3,218 sqft
Designed for year-round living with multi-generational potential, this contemporary home features separate staircases, open common areas, a private office in the primary suite, and a media room that can double as a guest room. Crown Point is a well-established, NON-RENTAL community within walking distance of Aaron Bessant Amphitheater, walking trails, and golf cart trails to Pier Park. The kitchen boasts all stainless-steel appliances, a double oven, a gas range, a spacious island, and sleek quartz countertops accented by mosaic tiles that evoke the beauty of Florida's sandy beaches. The media room overlooks the sparkling pool, inviting you to enjoy poolside fun like volleyball or relax on a lazy day. A convenient bathroom just off the patio provides easy access for pool guests. On the On the other side of the home, you'll find a serene patio with a koi pond, a pergola, and lush landscaping, offering a peaceful spot for morning coffee or dining al fresco. Upstairs, three guest bedrooms share a well-appointed bath, while the private primary suiteaccessible via a hidden stairwell behind the kitchenincludes a spacious bedroom with a sitting area or office, a walk-in closet, and an ensuite bath featuring a jetted tub, double vanities, and a bidet. An additional private office space is also located upstairs. Outside, the two-car garage has plenty of storage, and the tool shed provides extra space for beach gear or a hobby area. The property also offers ample parking with a driveway and gravel parking area. The home's location is a standout, with a trail at the end of Sky Avenue leading to Aaron Bessant Park & Pier Park; the beach is just one mile away, and daily commute is easy via Hwy 98 and the traffic bypass on Hwy 79. Notable updates include a new roof, siding, and windows (2020), with impact windows throughout except for two bedrooms. The downstairs AC was replaced in 2019, the pool pump in 2024, and a tankless water heater was installed in 2020. ***Buyer is responsible for personally verifying details about this property.
Source: EMERALDCOAST #962245
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Gap financing to lower your down payment
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If a purchase takes longer than 45 days, we’ll cover the seller’s mortgage until you close
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Rates and payments are estimates based on public records.
Source: Public records
Source: EMERALDCOAST #962245
To qualify, you must meet the current FHA or VA 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%. 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.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence. When you apply for the loan, you must attest that the home will be your primary residence for 12 months to be approved for an FHA assumption. Most lenders will ask that you move in within 60 days.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
What is Roam?
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.
What is an assumable mortgage?
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.
Why is an assumable mortgage valuable?
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.
How can you find assumable mortgage listings?
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.
How do I qualify for an assumable mortgage?
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 620, 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.
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