2.97% FHA
$240,000
$530/mo
2545 STRATFORD DRIVE
Cocoa, FL
4 bd2 ba1,045 sqft
Merritt Island, Florida
Keep the rate.
Buy the home in Merritt Island.
3 assumable homes for sale in Merritt Island, with locked rates from 3.00%. Take over the seller’s existing FHA, VA, or USDA loan instead of financing at today’s 7.2%.
Median assumable rate
5.50%
vs 7.2% market
$316/mo saved
Median locked rate
5.50%
Across 3 assumable listings
Typical monthly savings
$316
On a $565,000 home vs 7.2%
Certified listings
0
Loan terms confirmed with the listing agent
Loan types
VA · FHA
Government-backed loans are assumable by law
Verified in Merritt Island
Homes with a rate worth keeping
3.00% VA
$1,149,000
$2,852/mo
150 UTOPIA Circle
Merritt Island, FL
5 bd4 ba5,308 sqft
3.06% FHA
$360,000
$905/mo
5614 JAMAICA Road
Cocoa, FL
3 bd2 ba1,456 sqft
6.35% VA
$390,000
$2,365/mo
5343 RADIANCE Court
Cocoa, FL
5 bd3 ba2,165 sqft
6.36% FHA
$215,000
$1,266/mo
519 DENSON Street
Cocoa, FL
3 bd1 ba1,144 sqft
6.71% VA
$336,900
$2,125/mo
6289 LEONARD Avenue
Cocoa, FL
3 bd2 ba1,212 sqft
Inventory snapshot
What’s assumable in Merritt Island right now
Live counts from the MLS feeds we index for Florida. Updated September 2026.
- Active listings
- 3
- Certified / verified
- 0
- Lowest rate
- 3.00%
- Median rate
- 5.50%
- Median list price
- $565,000
- Median cash to assume
- $237,046
Listings by locked rate
- Under 4%1 home
- 4% – 5%0 homes
- 5% – 6%1 home
- 6% and up1 home
Listings by loan type
- VA2 homesmedian 4.25%
- FHA1 homemedian 6.71%
FHA, VA, and USDA loans are assumable by law. Conventional loans almost never are.
By neighborhood
Assumable homes by Merritt Island ZIP code
Nearby markets
More assumable homes in Florida
- Orlando204
- Kissimmee194
- Tampa171
- Ocala143
- Davenport105
- Riverview93
- St. Petersburg82
- St. Cloud81
- Lakeland76
- Gainesville75
- Winter Haven73
- Spring Hill67
- Haines City61
- Deltona52
- Wesley Chapel50
- Zephyrhills49
- Palm Coast46
- Clermont45
- Port Charlotte45
- Land O'Lakes43
- New Port Richey43
- Sanford37
- Apopka36
- Bradenton36
Run your numbers
The cost of waiting in Merritt Island.
A 7.2% new loan against an assumable one at 5.50%, same balance, 30 years.
You keep every month
$502/mo
Over a year$6,021
Monthly payment, side by side
7.2% vs 5.50%
How an assumption works
Three steps. One lower payment.
You’re not applying for a new mortgage. You’re stepping into one that already exists, at the rate it was written.
- 01
Find a locked rate
Every listing here carries an existing FHA, VA, or USDA loan you can take over. Filter by rate, payment, or down payment.
- 02
Qualify with the servicer
You apply with the current lender, not a new one. Our team handles the paperwork and the timeline.
- 03
Close and keep the rate
The seller’s balance, rate, and remaining term become yours. No points, no rate shopping, no reset to 30 years.
Questions
Assuming a mortgage in Merritt Island
Numbers below come from current Merritt Island inventory and update as listings change.
- How many assumable homes are for sale in Merritt Island?
- As of September 2026, UMe tracks 3 active assumable listings in Merritt Island. Inventory refreshes from the MLS throughout the day, so the map may show slightly different counts.
- What types of assumable loans are available in Merritt Island?
- Current Merritt Island inventory breaks down as VA (2, median 4.25%) and FHA (1, median 6.71%). FHA, VA, and USDA mortgages are assumable by law, which is why they make up nearly all assumable listings. Conventional loans usually carry a due-on-sale clause and cannot be assumed. You do not need to be a veteran to assume a VA loan, though the seller's entitlement stays tied up unless you substitute your own.
- What is the lowest assumable mortgage rate in Merritt Island right now?
- The lowest rate on an active Merritt Island assumable listing is 3.00%, and the median across all 3 listings is 5.50%. 1 listing is under 4% and 1 is under 5%, compared with roughly 7.2% for a new 30-year loan today.
- How much can I save with a mortgage assumption in Merritt Island?
- Across current Merritt Island listings, the median principal-and-interest payment on the assumable loan is $2,784 per month versus $3,100 for the same balance at today's rates, a difference of about $316 every month, or $3,788 a year. The savings compound because you also keep the seller's remaining term instead of restarting a 30-year clock.
- How much money do I need to assume a home in Merritt Island?
- When you assume a loan you pay the seller the difference between the list price and the remaining loan balance. In Merritt Island that gap is currently a median of $237,046 on a median list price of $565,000. Buyers cover it with cash, a second mortgage, or seller financing; UMe can connect you with lenders who write gap loans behind an assumption.
- Which Merritt Island ZIP codes have the most assumable homes?
- The Merritt Island ZIP codes with the most active assumable listings are 32952 (2) and 32953 (1). Use the map to draw your own boundary or filter by rate, payment, and down payment inside any of them.
- How long does a mortgage assumption take in Merritt Island?
- Most FHA and VA assumptions close in 45 to 90 days. The loan servicer, not a new lender, underwrites you, and servicer turnaround is the main variable. UMe tracks the file with the servicer and the listing agent so nothing stalls, and every listing shows whether the assumption has already been confirmed with the seller's side.
Ready when you are
Stop overpaying for Merritt Island.
Every listing on the map has a rate you can take over. Start with the ones in Florida, or list your own low-rate loan and let buyers come to you.
