2800 Bayou Blvd, Pensacola, FL 32503
5 beds · 4 baths · 3,175 sqft
Merry Christmas, Seller is offering $5000 toward buyers closing cost on this Cordova Park 5 bedroom 3 ½ bath brick home with metal roof across the street from Bayou Texar. This corner lot has easy parking on the extra concrete pad and the 2-car side entry garage. Home has many charming features and modern updates. Large entry foyer with soaring ceilings and elegant chandelier. Formal Living and Dining have wood laminate flooring – tile throughout the remaining downstairs. Kitchen has stainless appliances, granite counter and tile and granite backsplash. Double ovens helpful with the holidays coming and there is a pantry around the corner. Open breakfast and gathering room. Gas log fireplace with granite accent and wood mantel. Sliding doors here to backyard patio. Before you get to the owner’s suite is a wet bar or coffee bar. Laundry/Hobby room has 18’ of cabinets and countertop. Laundry has a Deep sink on wall. Owner’s primary bedroom has French doors to patio. Bath has tile shower and tile accent wall, but the antique vanity will be what impresses. Garage entry is convenient for bring in the groceries. There is a ½ bath downstairs for guest. New carpet on stairs and in 4 bedrooms upstairs. One bedroom has private bath with antique vanity and double closets. Three other bedrooms share hall bath which also has antique vanity. All bedrooms have ceiling fans with lights. Home has 2 HVAC units. Never have a cold shower as tankless hot water system. Security system including ring doorbell. Sprinkler systems help to keep this lot looking pretty. New privacy fence around backyard. Location within minutes of mall, restaurants, airport, hospital and Pensacola State College.
Source: PENSACOLA #653261
Interest rate and monthly payment estimated based on public records.
Source: PENSACOLA #653261
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: #653261
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