508 Tracey Dr, Panama City, FL 32404
4 beds · 3 baths · 2,317 sqft
Get a free consultation call with an expert in the mortgage assumption process.
Panama City: Welcome to this beautifully updated and move-in ready home that offers the perfect mix of comfort, functionality, and charm. Major updates have already been taken care of for you—roof, A/C, and flooring were all replaced just three years ago. Most of the windows are new, and the sliding glass door has also been recently upgraded, filling the home with natural light while improving energy efficiency. Upstairs, there’s a full in-law suite complete with a private bedroom and full bath—ideal for guests, extended family, or a quiet work-from-home setup. The kitchen features granite countertops, 42-inch soft-close wood cabinets, and all appliances are only three years old. All of the bathrooms have been tastefully updated with granite, new fixtures, and modern toilets. The primary suite offers plenty of space to relax, with two walk-in closets and a luxurious jetted soaking tub. You’ll also enjoy the cozy wood-burning fireplace, a formal dining room for entertaining, and a sunny eat-in kitchen perfect for everyday meals. Outside, the fully fenced yard—with both wood and vinyl fencing—offers privacy and room to enjoy the outdoors. The home also has natural gas hookups for the range, grill, dryer, and water heater, with gas heat already in use. Conveniently located just 7 minutes from Walmart and only 20 minutes from Tyndall Air Force Base, this home makes daily errands and commuting a breeze. With so many thoughtful upgrades and a flexible layout, this one is truly move-in ready. Don't miss out—schedule your showing today!
Source: STELLAR #V4941929
Learn about how it works
Why Roam
Gap financing to lower your down payment
Unlock down payments as low as 5% – only with Roam
5x the likelihood your offer is accepted
If a purchase takes longer than 45 days, we’ll cover the seller’s mortgage until you close
Close faster and stress-free
We close 2x faster because of our deep experience and lender relationships
Rates and payments are estimates based on public records.
Source: Public records
All values shown are estimated costs / mo.
Source: Public records
Source: STELLAR #V4941929
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.
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.
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.
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.
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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.