1747 New Hope Rd, Gulf Breeze, FL 32563
3 beds · 2 baths · 1,984 sqft
Open House Saturday 4-5-25 11:00 - 1:00. You will want to see this charming brick beauty nestled on a private 1.5-acre wooded lot in the coveted Hickory Shores area. Enjoy spacious living in this custom - built brick home located only a short walk to the bay, two miles from the new high school and two and a half miles from the Publix/Lowes shopping center. Enter the house into an open layout that features a cozy great room with a fireplace perfect for family gatherings and a large well - designed kitchen. The kitchen has late model appliances, ample cabinets, quartz countertops and borders a formal dining room and a large utility room with plenty of storage space. The master bedroom is located in the rear of the house and has a large walk in closet and French doors looking out to the patio and pool area. Step outside to an expansive back yard highlighted with a new pool enclosed with a privacy fence and separate gated area. The entire lot is awesome with countless trees that provides a unique private setting and boasts a 1200 ft workshop perfect for hobbies or business options and a 2100 ft pole barn. Please note the 75 x 150 ft lot that was separated last year was deeded back to the property. The county advised a horse could be kept on the property. A new roof was installed on the house last year. Experience tranquility, privacy and space while being conveniently located to schools, shopping and the beach.
Source: PENSACOLA #654150
Financials
Source: Public records
Source: PENSACOLA #654150
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.