Charming Pensacola Bungalow on a Rare .33-Acre Lot — Room to Breathe, Minutes from Downtown If you've been searching for that elusive combination of character, updates, and outdoor space in the heart of Pensacola — this is the one. Sitting on a .33-acre lot, 2017 W Belmont Street offers something that's genuinely hard to find in this area: land. Real land. The kind where you actually have a backyard, mature shade trees, a fire pit hangout area, and room to just exhale. Built in 1938 and thoughtfully updated, this 3-bedroom, 2-bathroom home spans 1,640 sq ft and blends vintage charm with modern finishes. The kitchen is a standout — sage green shaker cabinets, butcher block countertops, subway tile backsplash, and stainless steel gas appliances give it a fresh, intentional feel. Luxury vinyl plank flooring flows through the main living areas, and the layout flows naturally from the front living room through to a secondary family room with open sightlines to the backyard. Both bathrooms have been updated; the guest bath showcases a striking subway tile walk-in shower with matte fixtures and an arched vanity mirror. The en-suit offers a full tub/shower combo. Laundry is tucked neatly inside with a full-size Maytag washer and dryer behind louvered doors. There's even a bonus flex room off the back — great as a mudroom, office, or sunroom — with direct backyard access. And then there's the outdoor space. A large elevated rear deck with a shade sail is where this home really shines — perfect for entertaining, grilling, or just taking in the lush green surroundings. Beyond the deck, you'll find a gravel fire pit area with string lights, a detached storage building/workshop, and plenty of open lawn space. On a street where most lots average a fraction of this size. All of this just minutes from the Downtown Palafox Strip, Pensacola's dining, arts, and nightlife scene, and a short drive to NAS Pensacola and the beaches. If land is on your list — and in this zip code, you won't find much of it — this is your move.
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.
