1505 BALLYHOO DR, Gulf Breeze, FL 32563
A stone's throw away from Santa Rosa Sound -NO flood zone!!! May I have the pleasure of presenting you this very attractive and well-kept FIVE bedroom, THREE bath, 3000+ square foot home, tucked away on a quiet cul de sac in the Seagate neighborhood of Gulf Breeze! This commanding residence offers the perfect blend of coastal living, modern comfort and will check all of your boxes! As you step inside, you are immediately greeted with well-designed open spaces, appealing color pallets, accents and natural light. The morning sun makes the formal dining room and office/den burst with color! Walk with me towards the grand room and your attention will first gaze up at the high 9’-11’ trey ceilings, then down to the upgraded wood-look engineered vinyl plank that blankets the entire home! The open concept kitchen is delightful for cooking family meals and entertaining guests. An oversized island, granite countertops, all stainless steel appliances, custom tile backsplash, plenty of cabinetry and a walk in pantry awaits! The primary bedroom is large and relaxing, and features your own private entrance in and out of the home. The primary bath boasts a garden tub, a walk in shower, double granite vanities and an oversized closet with a custom security fingerprint lock! The secondary bedrooms are abundant in size and have ample closet space. Relaxation awaits, as you step outside onto your back deck & covered lanai, which features plenty of space for comfortable furnishings to sit and watch the kiddos play. If you’re an avid boater, angler, or simply seeking the tranquility of sound-side living, take note you are less than TWO minutes from the nearest boat launch! The list goes on ~walking distance to the ZOO, whole home water filtration system & HOA allows driveway boat parking! Top rated schools, shopping, dining, stunning sugar white beaches and all military installations within easy reach!
You may be able to put down less than the total down payment amount of $76,200 and have the rest of the funds financed with a 2nd mortgage from a lender. 4
Location
Details
How it works
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Tour
Whether you have an agent or you’re just starting your search, reach out to us and we’ll help set up a home tour.
Offer
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Close
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
Who can qualify
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.
Frequently asked questions
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.
Will an assumption work for me?
An assumption might be a suitable option for you if you meet the lender’s qualifications. We also offer Roam Boost to help buyers reduce the down payment required to a minimum of 5-15%. See below for more FAQs specific to Roam Boost.
Why do buyers use Roam?
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Roam helps home buyers find and purchase homes with a low-rate assumable mortgage included. Once you find your dream home, Roam manages the process of assuming a low-interest rate mortgage, helping buyers save thousands a year on mortgage payments compared to buying with a traditional mortgage at today’s rates. On average, buyers who use Roam save $15,000 in mortgage payments annually.
MLS ID: #643080