Motivated Seller! Bright, Renovated 2-Bedroom Cottage With Large Yard Near Country Club & BeachDiscover this beautifully updated and fully furnished 2-bedroom, 1-bath cottage in the Aero Vista neighborhood�100% move-in ready, with or without furnishings, and ideal for your primary residence, second home, or high-performing rental investment. Thoughtfully redesigned with an open-concept layout, this home pairs timeless cottage charm with modern upgrades throughout.Step inside to find luxury vinyl tile flooring, a sleek new kitchen with new cabinetry, stainless steel appliances, perfect for everyday living or hosting guests. A versatile bonus space offers the flexibility for a home office, dining room or hobby area. Enjoy peace of mind with major improvements already completed, including a 2021 architectural shingle roof, updated HVAC, newer water heater, and a fully renovated bathroom with stylish, contemporary finishes. The entire home has been freshly furnished with updated upholstery and detailed cleaningcreating an effortless turnkey experience. The welcoming front and back porches add to the home's charm, while the spacious backyard provides a private retreat complete with a cozy firepit area, mature tropical landscaping, partial fencing, and a generous shed on an extended concrete slabperfect for storage, tools, or a small workshop. Outstanding Location! Just minutes to downtown Pensacola, Pensacola Beach, NAS Pensacola, and vibrant Palafox Street's renowned markets, restaurants, and entertainment. As a fun local bonus, enjoy occasional flyovers from the legendary Blue Angelsa unique neighborhood highlight. With a strong rental history, this property checks every box for investors and buyers seeking a fully furnished, turn-key home in a prime Pensacola location. Don't miss this opportunityschedule your private showing today or stop by an upcoming open house!
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.
Yes. Non-veterans can assume a VA loan, provided they meet the lender’s VA criteria. When a qualified buyer assumes a VA mortgage from a veteran or active-duty service member, the seller’s VA loan entitlement remains tied to the assumed loan until the buyer pays off or refinances the loan. This process restores the veteran seller’s entitlement, enabling them to use their VA benefit for a future home purchase.
Yes. All FHA loans are assumable by law as long as the buyer meets the FHA’s credit, income, and qualification requirements and obtain lender approval before assuming the loan (per FHA regulations effected December 15, 1989). Roam makes this process simple for buyers.
Generally, conventional loans are not assumable. In rare cases, a conventional loan may be assumable with lender approval. Use our search tool to find homes with assumable low-rate loans, or reach out to us if you’d like to confirm a specific home’s assumability.
