8310 Marina Dr, Holmes Beach, FL 34217
3 beds · 2 baths · 1,574 sqft
POTENTIAL FOR AMAZING WATER VIEWS! The home has sustained storm damage from Helene and Milton. Interior remediation appears to be completed. The photos featured in this listing were taken before the storms but give a good representation of the lot, location, potential for the interior spaces. Be sure to view all property photos, including images of potential views from a future 2- or 3-story home. The canal across the street has an area that is owned by the City of Holmes Beach which many locals use for launching a kayak or paddleboard to access Bimini Bay. Situated in one of the most peaceful areas of Anna Maria Island, this expansive 90x102 ft lot (9,180 sq ft) sits across from an inlet leading directly into Bimini Bay. A prime opportunity to "bring your vision to life", this property is perfect for building your dream home or potentially restoring the existing structure. Located just 2.5 blocks from the public beach at the end of White Avenue and only two blocks to the Anna Maria Island Free Trolley stop, this spot offers both convenience and charm. The existing 3-bedroom, 2-bath structure features 1,574 sq ft of living space, a 2-car tandem garage (approx. 18x35 ft), and a rear concrete slab patio, providing a "blank slate" for customization. One side of the lot appears to have space for boat parking behind a wood privacy fence, while the other side includes a paved area large enough for an RV or boat. Being sold AS-IS, WHERE-IS **Priced at land value—don’t miss this opportunity!**
Source: STELLAR #TB8344258
Financials
Source: Public records
Source: STELLAR #TB8344258
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.
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