1501 Woodlawn Way, Gulf Breeze, FL 32563
4 beds · 2 baths · 2,169 sqft
Welcome to this beautiful all-brick 4-bedroom, 2-bathroom, 2,169 sq. ft. home, located in the desirable Woodlawn Heights neighborhood. This 2012 built home will catch your attention as soon as you arrive, stepping onto oversized covered front porch, your eyes are drawn to the elegant arched front windows and glass front door. As you enter you are immediately greeted into a bright and spacious foyer opening right into the spacious living room, office and dining room. The split floor plan offers privacy and functionality, with a large primary suite featuring high tray ceiling, en-suite bath flooded with natural light, a double vanity, his-and-hers closets, a large garden tub, and a separate glass enclosed shower. From the primary bedroom, private French doors lead directly to the covered back patio making it the perfect retreat! In the heart of the home, the open kitchen boasts granite countertops, a breakfast nook, and a built-in pantry, making it a dream for both cooking and entertaining. Just off the kitchen there is a dedicated dining room, perfect for hosting friends and family. Across from the dining space is a separate office or multi-purpose space which adds to the versatility of this already specious home. Entertain guests indoors and out with a covered back porch and fully fenced backyard, providing plenty of space for outdoor enjoyment. Enjoy the luxury of the the sprinklers which are run off a reclaimed water sprinkler system, ensuring a lush lawn without the unsightly rust stains common in other neighborhoods. Rest assured knowing this home has a newer HVAC system installed in 2021 and a new hot water heater installed in 2023. Located in a sidewalk-lined community, Woodlawn Heights offers wonderful amenities, including an exclusive playground and pavilion area with picnic tables and water features, along with neighborhood RV and boat storage. Located midway between Fort Walton Beach and Pensacola, this home provides easy access to both locations making it easy to get to work and the beach in no time. Plus, with Woodlawn Middle School across the street and a brand-new high school under construction just across Highway 98, this area continues to grow in convenience and desirability. Don't miss your chance to own this well-maintained, ideally located home. Reach out for a showing!
Source: EMERALDCOAST #969727
Financials
Source: Public records
Source: EMERALDCOAST #969727
To qualify, you must meet the current FHA or VA 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%. 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.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
What is Roam?
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.
What is an assumable mortgage?
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.
Why is an assumable mortgage valuable?
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.
How can you find assumable mortgage listings?
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 “Get Notified” 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.
How do I qualify for an assumable mortgage?
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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.