Welcome to this beautifully updated 5-bedroom, 3.5-bath home in the sought-after Shepherd’s Grove community. Situated on a quiet, sidewalk-lined cul-de-sac near Tate High School, this spacious 3,200+ square-foot home offers the perfect blend of comfort, style, and functionality. Thoughtfully upgraded throughout, the home features a custom-designed kitchen, luxury vinyl plank flooring, and a new HVAC system (2025). The stunning kitchen serves as the heart of the home with Cambria quartz countertops, a dramatic waterfall edge, charging station, solid white oak and maple cabinetry, built-in microwave drawer, and stainless steel appliances. The breakfast nook and peninsula provide additional seating while opening seamlessly to the living room, creating an inviting space ideal for entertaining and everyday living. A cozy gas fireplace adds warmth and charm to the main living area. The well-designed layout also includes a formal dining room and an office space tucked away from the main living spaces- perfect for working from home. The spacious primary suite offers a relaxing retreat with a double vanity, garden tub, floor-to-ceiling tiled shower, and a generous walk-in closet. Upstairs, you’ll find an additional bedroom, full bathroom, and an expansive bonus flex room ideal for a media room, playroom, guest suite, or 5th bedroom. Step outside to enjoy your morning coffee on the large newer deck (2023) with a covered metal roof, integrated lighting, and ceiling fans — an ideal space for relaxing, entertaining, or simply enjoying the peaceful sound of a passing rainstorm. The spacious utility room and under-stair storage area add even more functionality to this exceptional home. Conveniently located just 30 minutes from the beach, 13 minutes from Navy Federal, and 20 minutes to downtown Pensacola, this move-in-ready home combines upscale upgrades, flexible living space, and an exceptional location. Schedule a private tour today.
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.
