643 Jerrells Ave, Fort Walton Beach, FL 32547
3 beds · 2 baths · 1,396 sqft
Welcome to 643 Jerrells Ave, an inviting single-family residence nestled in the heart of Fort Walton Beach, FL. This charming home offers 1,396 square feet of thoughtfully designed living space, featuring three spacious bedrooms, two bathrooms, and a two car garage. Roof 2020, HVAC & Water Heater 2021. **Assumable 4.125% VA interest Rate**As you step inside, you'll be greeted by a warm and welcoming atmosphere, perfect for relaxation and entertainment. The open-concept living area flows seamlessly into the dining area and the well-equipped kitchen, providing ample space for culinary adventures and gatherings. The recently updated kitchen features an undermount stainless sink, quartz countertops and stainless steel appliances. The living area offers tray ceilings and LVP flooring. Just off the living are french doors leading you to the covered back porch area, which is perfect from relaxing or grilling. The backyard is completely fenced in offering endless possibilities for outdoor activities, gardening, or simply enjoying the Florida sunshine. Back inside, the primary bedroom is a peaceful retreat, complete with a walk-in closet and an en-suite bathroom for added convenience and privacy. Two additional bedrooms offer versatility for guests, a home office, or creative spaces. The second bathroom is just off the hallway and is easily accessible from the common areas. The location of this home provides easy access to local amenities, recreational opportunities, and the vibrant community of Fort Walton Beach. This delightful home at 643 Jerrells Ave is a wonderful opportunity for those seeking comfort and convenience in a desirable location. Don't miss out on the chance to make this property your own. Schedule a viewing today and experience all that this home has to offer!
Source: EMERALDCOAST #972302
Financials
Source: Public records
Source: EMERALDCOAST #972302
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.
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 “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.