8916 Schooner Ct, Navarre, FL 32566
6 beds · 6 baths · 3,692 sqft
Welcome to Schooner Court, all brick, three story home that provides an abundance of space for the entire family and a bonus mother in law suite on the ground floor. This is an additional BONUS 980 SF that is not added in the original square footage. The home provides over 6 rooms and 5 bathrooms on a multi level layout. This amazing solid home was built to last. The balcony views provide Navarre Beach sunsets and morning sunrise views from the Eastern side. Beach access right across the street from the home that also provide unobstructed views on the water. The home has a large feature sheet, inclusion list, and paid off SOLAR on the metal roof, so please read that over. The home has currently been renting with AIRBNB and has grossed over 110k each year. You can continue to use the home as passive income or move the entire family here to enjoy daily. The home is situated on a private cul-de-sac with more than 10 parking spots available. Underground utilities in the neighborhood and no HOA. Being your RV on the right side of the home and it also has professional installed EV hook up for 2 vehicles. The downstairs has a private suite with mini kitchen, 1 bedroom, full bathroom and living room for MIL or other use. The right side is still a full garage but currently used as a home gym. The home can easily convert back into the second garage on the left side with eliminating the downstairs bonus living room. So many options with this custom layout! The backyard features a heated pool, 7 person hot tub, covered patio space and decks for entertaining! This home is a must see! It's amazing to have a water view home without the waterfront price tag.
Source: EMERALDCOAST #961779
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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
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We close 2x faster because of our deep experience and lender relationships
Rates and payments are estimates based on public records.
Source: Public records
Source: EMERALDCOAST #961779
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. When you apply for the loan, you must attest that the home will be your primary residence for 12 months to be approved for an FHA assumption. Most lenders will ask that you move in within 60 days.
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 “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.
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 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.
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