1609 Sumatra Ln, Gulf Breeze, FL 32563
3 beds · 2 baths · 2,508 sqft
Welcome to this lovely brick home in the Polynesian Isles subdivision. This brick home features 3 bedrooms, 2 bathrooms, just over 2500 square feet and sits on almost 1/2 an acre. You have a view of the canal from your front porch and just a block away from the bay. As you enter the home, to the left you have the oversized converted garage, with vinyl wood look floor and a beautiful stone wall with a large wood beam mantle and electric fireplace. To the back of the room is an additional space/ bonus room that has access to the driveway . The interior laundry room has tons of room for storage and includes an addition closet that has two safes built into the slab of the home. The majority of the home has tiled flooring, and no carpeting throughout. The living room off of the kitchen overlooks the back yard and is the center point of the home. As you enter the kitchen you will notice all of the updates including granite counter tops and backsplashes and warm grey cabinets, stainless steel appliances and wood look vinyl plank flooring. The dining area just off the kitchen sits in a bay window and overlooks the back yard. The primary bedroom has plenty of room for a sitting area and includes a walk in closet and bathroom with dual vanities and a private shower area. As you enter the back yard you will notice the covered patio and large garage/storage building. With an acceptable offer, the seller will replace the roof prior to closing. This home has too many features too mention. Call today to schedule your personal tour.
Source: PENSACOLA #642004
Interest rate and monthly payment estimated based on public records.
Source: PENSACOLA #642004
Source: Public records
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
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.
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
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.
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.
MLS ID: #642004
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