711 Kathy Ave, Fort Walton Beach, FL 32547
3 beds · 3 baths · 2,300 sqft
**Assumable VA loan at 2.25%** Are you in search of a serene abode nestled on a well-established street, offering the utmost convenience of in-town living? Your quest ends here! This residence embodies all these qualities and so much more. It graces a spacious lot adorned with mature trees, while the backyard is a haven featuring a sizable in-ground swimming pool and a convenient storage shed, and privacy fence. The updated exterior boasts hardi-board siding and solar panels. The kitchen takes center stage in this home, boasting exquisite granite countertops, stainless steel appliances, a top-of-the-line Wolf 5-burner cooktop, and a central island with a breakfast bar. Practicality meets beauty in this culinary haven, with modern conveniences like built-in ovens, a microwave, and slide-out shelving in select cabinetry. The primary living area proudly boasts soaring vaulted ceilings and an abundance of windows, bathing the space in natural light. Recent years have witnessed updates to the elegant wood and travertine flooring, window treatments, and light fixtures. The primary bedroom offers generous proportions, complete with a walk-in closet and an updated primary bathroom featuring a glass-door shower. Two additional guest bedrooms and a Jack and Jill bathroom can be found on the upper level. Contact us today to explore this haven further and see how it can become your perfect retreat!
Source: PENSACOLA #634582
Source: PENSACOLA #634582
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Whether you have an agent or you’re just starting your search, reach out to us and we’ll help set up a home tour.
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
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.
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.
MLS ID: #634582