781 Binnacle Point Dr, Longboat Key, FL 34228
3 beds · 3 baths · 2,269 sqft
Get a free consultation call with an expert in the mortgage assumption process.
This house had no flooding after major hurricanes of 2024. due to its high elevation and hurricane resistant doors and windows. Coveted lifestyle and location in Emerald Harbor on one of the widest canals on Longboat Key with direct access to Sarasota Bay with no bridges. Move in ready and fully furnished. New roof 2024, new heat pump and spa 2023 and outdoor pool/lanai lighting. 50 foot dock and 10,000 lb boatlift with 100 feet of seawalled waterfront. Dolphin and manatees are regularly seen in canals. Meticulously maintained and beautifully landscaped. A spacious open floor plan with 3 bedrooms, 2 full baths and 1 half bath. There is a gorgeous pool and spa ready for immediate enjoyment. The split bedroom floor plan features sliding glass doors in the master suite, living room and dining room and kitchen opening into the screen enclosed lanai and pool. Renovated kitchen -quartz countertops cabinets and new appliances, new bathrooms, travertine flooring, recessed lighting and freshly painted interior. Seawall, lift and dock were installed in 2017, pool and front pavers completed in 2018. Emerald Harbor is a quaint and desirable lifestyle. It is only a 5 minute walk to beach. The HOA includes a deeded beach access path. Everything in the house conveys except some select art decor. Aerial views were taken prior to new next door construction.
Source: STELLAR #TB8372210
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 #TB8372210
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.