204 Payne Rd, Pensacola, FL 32507
3 beds · 2 baths · 1,195 sqft
Welcome to this Fully Renovated charming cottage, a Navy Point Treasure! It has been lovingly updated from top to bottom. This delightful home is as Cute as a Button! It features solid surface flooring throughout, a spacious master bedroom with a walk-in closet, and a detached converted garage that offers endless possibilities as an office, playroom, art studio, she shed, or man cave. Enjoy the inviting open floor plan filled with natural light from numerous windows. Gather around the cozy fireplace or step outside onto the circular brick patio, perfect for outdoor entertaining. Several years ago, this home underwent a complete transformation, including updates to the electrical, plumbing, HVAC system, roof, and windows. The bathrooms have new cabinetry, and granite countertops. The interior upgrades also include new sheetrock, lighting, doors, and trim, as well as an updated water heater. 2023 Updates include New blown in insulation, New Front Door ^ New Gutters. Your fenced in Backyard features a detached office/playroom is a versatile space, equipped with heating and cooling, sheetrock walls, windows for natural light, wood look flooring, granite countertops, and additional storage. There is also a large concrete pad which could be used for an outdoor kitchen, seating area or additional parking. Another notable feature is that there is No HOA here! Located in Navy Point, this home provides access to neighborhood amenities such as a boat launch, waterfront walking trails, and a playground. There are also activities including an annual Neighborhood Art Show, Garage Sale, Christmas Parade & Picnics in the Park where a Food Truck visits! This home is conveniently situated just minutes away from NAS Pensacola and the VA Hospital, with downtown, shopping, restaurants, and beaches all within a short drive and you can watch the Blue Angels practice over the bayou on practice days! Don’t miss out on this completely updated Navy Point gem—schedule your showing today!
Source: PENSACOLA #648883
Source: PENSACOLA #648883
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: #648883
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.