4510 Luke Ave, Destin, FL 32541
3 beds · 2 baths · 1,516 sqft
In highly sought after Crystal Beach, this quintessential Old Florida beach house is a short 5 minute walk to the Gulf. This charming 3 bedroom 2 bath is perfect for entertaining as you have overflow space onto 800 square feet of screened-in porch which is 8 ft. deep and wraps around three sides of the house. As you enter the front door your eyes will be drawn to the unique 12 foot vaulted wood ceiling and hardware floors expanding the already open concept feel in the living, dining and kitchen area. The living room has a fireplace for those rare chilly nights. Neutral Corian countertop in the kitchen with a wide prep space for entertaining, with granite countertops and tiled floors in the bathrooms. This house is made for outdoor living. Add daybeds to your porch and listen to the rain drops on your metal roof, or play cards on the porch after dinner. If you are looking for a building lot in Crystal Beach this is a prime corner lot that you could build your dream home on with plenty of parking and an in-ground pool. There are zero building lots for sale in Crystal Beach, and there isn't a house priced for less than this one. It's a win either way. House being sold unfurnished.
Source: EMERALDCOAST #970769
Financials
Source: EMERALDCOAST #970769
Source: Public records
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%. 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.
Other resourcesWhat 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 “Get Notified” 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 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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.