3320 Marion Oaks Way, Pensacola, FL 32507
3 beds · 2 baths · 1,741 sqft
** OPEN HOUSE November 23 from 10 am to 11:30 am** This is a great home in Marion Oaks that will certainly provide the comforts and amenities that you are looking for. It’s conveniently located to NAS Pensacola and Perdido beaches. The home resides on a large shaded corner lot with nice landscaping. The home offers a great room with fireplace and vaulted ceiling with skylight and luxury vinyl plank flooring that you will find throughout the home along with some tile. The kitchen was updated just two years ago and features stainless appliances to include refrigerator, built in microwave, oven/stove and dishwasher. Other kitchen features include breakfast bar and pantry. The master suite has a double sink, walk-in closet and tile flooring. Tile flooring exists in the other wet areas as well. Other features of this home include a Florida room, over-sized 20X28 foot two car garage with ½ bath, utility sink and a laundry room with shelving and a washer and dryer that convey, plus blinds throughout. The back yard has a two year old privacy fence with double gate entry on the side providing easy access to the 8X12 wood sided storage shed. The home is on sewer and has a Gas water heater and HVAC system (2021). The home is rounded out with gutters and a 2021 roof. This home is nearly perfect and will make a great place to call home.
Source: PENSACOLA #647550
Interest rate and monthly payment estimated based on public records.
Source: PENSACOLA #647550
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: #647550
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