FHA
Active
17$240,000$128,781 down
- Rate
- 2.97%
6.95%today- Payment
- $530/mo
$836today
- 4beds
- 2baths
- 1,045sqft
Merritt Island, Florida
Assumable homes for salein Merritt Island, Florida.
1 home in Merritt Island carries an existing FHA, VA, or USDA loan you can take over, with locked rates from 5.50%. Assume the seller’s mortgage instead of financing at today’s 7.2%.
Live MLS data · Updated
Merritt Island assumable market
by the numbers.
1active assumable listing
5.50%lowest locked rate
$565kmedian list price
$371saved per month vs. 7.2%
About the market
Assumable mortgagesin Merritt Island, explained.
Every number on this page comes from the live MLS feeds UMe indexes for Florida, filtered to Merritt Island. Updated September 2026.
How assumptions work for buyersMerritt Island, Florida has 1 home for sale with an assumable mortgage as of September 2026: 1 VA loan that a qualified buyer can take over at the seller's existing rate instead of financing at today's roughly 7.2%. Rates on active Merritt Island assumable listings start at 5.50% with a median of 5.50%; 0 listings are under 4% and 0 are under 5%.
The median assumable home in Merritt Island lists for $565,000, with a median of $237,046 in cash to assume, the gap between the price and the remaining loan balance. At the median assumable rate the principal-and-interest payment is about $2,729 a month versus $3,100 for the same balance at today's rate, roughly $371 kept every month and $4,452 a year. The most active Merritt Island ZIP codes are 32952 (1).
UMe confirms the balance, rate, and assumability of each listing with the listing agent before marking it Certified. FHA, VA, and USDA loans are assumable by law, and you do not need to be a veteran to assume a VA loan. Once you are under contract, the loan servicer underwrites you rather than a new lender; most Merritt Island assumptions close in 45 to 90 days, and UMe tracks the file with the servicer and both agents so nothing stalls.
Verified in Merritt Island
View all 1 on the map Homes on the marketin Merritt Island.
VA
Active
47$422,500$422,500 down
- Rate
- 3.00%
6.95%today- Payment
- $0/mo
- 3beds
- 2baths
- 1,792sqft
3165 ATLANTIC Avenue #B209, Cocoa Beach
VA
Active
22$529,900$240,019 down
- Rate
- 3.74%
6.95%today- Payment
- $1,543/mo
$2,208today
- 5beds
- 3baths
- 2,827sqft
1535 FUJI Drive, Melbourne
VA
Active
43$850,000$12,043 down
- Rate
- 6.20%
6.95%today- Payment
- $5,243/mo
$5,667today
- 4beds
- 4baths
- 3,149sqft
7966 WYNDHAM Drive, Melbourne
VA
Active
28$390,000$13,170 down
- Rate
- 6.35%
6.95%today- Payment
- $2,365/mo
$2,516today
- 5beds
- 3baths
- 2,165sqft
5343 RADIANCE Court, Cocoa
FHA
Active
33$215,000$20,610 down
- Rate
- 6.36%
6.95%today- Payment
- $1,266/mo
$1,345today
- 3beds
- 1baths
- 1,144sqft
519 DENSON Street, Cocoa
Live MLS collection. Loan balances, payment estimates, and cash-to-assume amounts update with the source listing. Taxes, insurance, HOA, closing costs, and secondary financing may change the final monthly payment.
Inventory snapshot
What’s in the mixin Merritt Island.
Live counts from the MLS feeds we index for Florida. Updated September 2026.
- Active listings
- 1
- UMe Certified / verified
- 0
- Lowest rate
- 5.50%
- Median rate
- 5.50%
- Median list price
- $565,000
- Median cash to assume
- $237,046
Merritt Island listings by locked rate
- Under 4%0 homes
- 4% – 5%0 homes
- 5% – 6%1 home
- 6% and up0 homes
Merritt Island listings by loan type
- VA1 homemedian 5.50%
FHA, VA, and USDA loans are assumable by law. Conventional loans almost never are.
By neighborhood
Assumable homesby Merritt Island ZIP code.
Each ZIP opens the Merritt Island map zoomed to its listings, in assumptions mode, with rate and payment filters ready.
Run the Merritt Island numbers
What an assumable ratedoes to a Merritt Island payment.
The sliders start at the median Merritt Island assumable listing: $565,000 list price and a 5.50% existing rate. We compare the payment you would take over against financing the same balance with a new loan at today’s 7.20%. Principal and interest only; taxes, insurance, and HOA dues are the same either way.
The gap between price and balance is the seller’s equity: your cash to assume, or what a second loan can help cover.
Cash to assume (seller’s equity)$235,000
42% of the price. Eligible buyers can start with as little as 5% down using a second loan for the rest.
Your monthly payment if you assume in Merritt Island
$1,990/mo
New loan at 7.20%$2,240
Assumed at 5.50%
$1,990
Every month$250
Over five years$14,978
Interest you never pay$185,40426-year assumed loan vs. a new 30-year loan
Estimates for illustration. The real numbers depend on the loan, the servicer, and your qualification; every Merritt Island listing on UMe shows the actual balance, rate, and payment.
How it works in Merritt Island
How to assumea mortgage in Merritt Island.
You’re not applying for a new mortgage. You’re stepping into one that already exists, at the rate it was written. Four steps, and UMe owns the hard one.
Start with pre-qualification- 01
Find a Merritt Island home with a locked rate.
Every listing on this page carries an existing FHA, VA, or USDA loan. Filter the Merritt Island map by existing rate, monthly payment, or cash to assume instead of by list price alone.
- 02
Cover the seller’s equity.
You pay the seller the difference between the price and the remaining balance, a median of $237,046 in Merritt Island today. Cash, a second loan, or seller financing can bridge it.
- 03
Qualify with the servicer, not a new lender.
The current loan servicer reviews your credit, income, and debt just like a lender would. UMe prepares the file, works the servicer directly, and chases every follow-up so the 45-to-90-day timeline holds.
- 04
Close and keep the rate.
The seller’s balance, rate, and remaining term become yours. No points, no origination fee, no reset to 30 years, and a Merritt Island payment written in a different decade.
Merritt Island questions
Assuming a mortgagein Merritt Island.
The numbers below come from current Merritt Island inventory and update as listings change.
All assumption FAQsHow many assumable homes are for sale in Merritt Island?
As of September 2026, UMe tracks 1 active assumable listing 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 (1, median 5.50%). 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?
The lowest rate on an active Merritt Island assumable listing is 5.50%, and the median across all 1 listing is 5.50%. 0 listings are under 4% and 0 are 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 $2,729 per month versus $3,100 for the same balance at today's rates, a difference of about $371 every month, or $4,452 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 (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.
Nearby markets
All of Florida More assumable homesin Florida.
Ready when you are
Stop overpaying for Merritt Island.The rate is already on the house.
Every listing on the Merritt Island map has a rate you can take over. Start with the ones in Merritt Island, get pre-qualified in minutes, and let UMe carry the assumption to closing.
