Welcome to this beautifully fully remodeled 3-bedroom, 2-bath home ideally located NEAR the NAVAL HOSPITAL and NAVAL AIR STATION Pensacola, offering both convenience and modern comfort. Every detail of this home has been thoughtfully updated to create a MOVE-IN READY space with stylish finishes and functional design. As you enter the home, you’ll immediately notice the BRAND-NEW LVP FLOORING that flows seamlessly throughout. The living and dining areas transition smoothly together, that is perfect for everyday living as well as entertaining family and friends. Home features NEW DOORS, BRAND NEW WINDOWS, RECESSED LIGHTING and UPDATED HARDWARE throughout and adds a polished, modern feel. The fully REMODELED kitchen is designed to impress. It features GRANITE countertops, NEW CABINETRY, NEW Stainless Steel Appliances, and a stylish TILE BACKSPLASH. All the finishing touches have been carefully considered, including a granite windowsill. The Primary bedroom suite is thoughtfully SPLIT from the additional bedrooms and includes its own fully REMODELED BATHROOM, complete with a NEW VANITY, updated flooring, and a NEW Walk In SHOWER, offering a clean and modern feel. The additional bedrooms are generously sized, each providing ample space for furniture along with great closet storage. They share an UPDATED full bath in the hallway. Step outside to enjoy the 13 x 9-FOOT DECK, the perfect spot for morning coffee, grilling, or relaxing evenings outdoors. The FULLY FENCED BACKYARD offers privacy and plenty of room for pets, play areas, gardening, or even future expansion. Situated on nearly a QUARTER ACRE LOT, the property provides both space and potential that is increasingly hard to find. Also included 3 STORAGE SHEDS/Out Buildings for your extra stuff and TOYS. Important updates provide added peace of mind, including a ROOF that is only FIVE YEARS old, an HVAC system that is also only FIVE YEARS old, and a NEW HOT WATER HEATER. Call us today for your private showing!
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.
