1621 Anderson St, Pensacola, FL 32503
3 beds · 1 baths · 1,239 sqft
2.5% VA Assumable Loan! Welcome to this beautifully remodeled brick home in highly sought-after, East Hill. Located just minutes from downtown, shopping, hospitals, I-10, and a short drive to Pensacola Beach. Completely renovated in 2020, this home features beautiful updates, and even restored the original hardwood floors, preserving its classic appeal. The modernized bathroom is elegantly updated with tiled floors and a stylish tiled shower. The kitchen is a true centerpiece, showcasing magazine-worthy renovations, including stainless steel appliances, granite countertops, and an oversized farmhouse sink. Recent upgrades include a new roof and HVAC system, both replaced in 2022, providing long-lasting comfort. The washer and dryer convey with the home for added convenience. Enjoy outdoor living in the spacious backyard, perfect for entertaining. It also includes a concrete slab ready for a storage/workshop. The one-car garage also offers generous storage space. This home is a rare opportunity to experience modern comfort in an unbeatable location.
Source: EMERALDCOAST #958930
All values shown are estimated costs / mo.
Source: Public records
Source: EMERALDCOAST #958930
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.
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.
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.
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 620, 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.