Welcome to the Belvedere Park Neighborhood! As you step inside, you'll be greeted by a warm and inviting living room, with a split floor plan that is open to the kitchen, dining room and greatroom. The adjacent dining area offers ample space for family meals or casual gatherings. The kitchen, featuring modern appliances and plenty of granite counter space, is a chef's dream. The primary bedroom boasts an en-suite bathroom with double vanity, 2 large closets, shower and lots of cabinets. You'll also find two generously sized bedrooms, each providing a peaceful retreat and generous guest bath in the hall. A versatile bonus room on the second floor offers endless possibilities, whether you envision it as a home office, a guest room, or a hobby space and features built-in bunks and shelving - good for books, video games, movies or whatever you desire. The fenced-in backyard provides a private oasis for enjoying the Florida sunshine and the workshop has power and is a blank canvas for whatever you choose to use it for. While this home doesn't have a garage, it does feature the workshop, providing ample space for your DIY projects. Imagine grilling out with friends, tending to your garden, or simply relaxing on the patio. One of the highlights of this property is its proximity to Belvedere Park - just 2 blocks over. Convenient location near schools, shopping, and dining - don't miss this opportunity to make this charming home your own. Schedule a showing today and experience the Pensacola Lifestyle. Seller Concessions offered as well. Roof 2019, Gas 40 gal Water Heater 2019, windows 2019, hurricane shutters 2019, ac 2013.
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.
