603 Merioneth Dr NE Fort Walton Beach, FL 32547
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About this home
Great Location! Sellers are offering a Loan Assumption at 3.62% on the $429K of their VA Loan. All Brick 3 Bed/2 Bath home in the highly desired Kenwood neighborhood. Centrally located closed to both bases Eglin AFB and Hurlburt Field. Located within walking distance of Kenwood Elementary and Choctawhatchee High school. This home offers over 2100 heated square feet with a spacious living room and two separate family room/sitting areas. One has a fireplace, the other has a full wall of windows looking out to the back yard; either one could be used for your dining area. The kitchen has stainless appliances and plenty of cabinet space. The fully fenced, private backyard is great for entertaining with an in ground pool, hot tub, fire pit and a building to use as a pool house or office space. Inside, this beautiful residence boasts a brand new refrigerator and dishwasher, ensuring your kitchen is equipped with the latest appliances. The hot water heater, only two years old, provides reliable and efficient service. Enjoy the elegance and durability of ceramic tile flooring throughout the home. Additionally, you'll find stunning new bathroom vanities that add a touch of luxury to your daily routine. To top it all off, the home features a beautiful new front door, adding to its curb appeal and welcoming charm. Step outside to your private oasis, complete with a brand new privacy fence and a spacious new deck, perfect for entertaining. The variable speed pool pump ensures your pool is always ready for a refreshing dip. Additionally, the home is equipped with gutters featuring a gutter guard system, providing low-maintenance protection from debris.
Source: EMERALDCOAST #979679
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FAQs
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.
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.
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.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.