Limited time: Pay only $1,000 to assume a low rate mortgage when you sign a purchase contract between 12/11/24 and 1/10/25 *
VA loan
30-day close
1 of 21
VA loan
30-day close
$470,000

348 Cayden Way, Cantonment, FL 32533

4 beds · 4 baths · 2,785 sqft

MOVE IN READY!!! Quick closing possible. Seller to pay up to $10,000 of buyer's closing costs. $275,000 OF THE PURCHASE PRICE IS ASSUMABLE!!! BETTER THAN NEW 4/3.5 CAMDEN PLAN WITH SMART HOME CAPABILITIES ON ALMOST A HALF ACRE! SELLERS HAVE ALREADY PAID THE COSTLY EXPENSES THAT COME WITH A NEW HOME...PRIVACY FENCE, GUTTERS, SECURITY SYSTEM, REFRIGERATOR AND BLINDS. THIS FLOOR PLAN IS PERFECT FOR SO MANY FAMILY DYNAMICS IN THAT IT OFFERS AN ADDITIONAL MASTER SUITE PLUS BONUS ROOM THAT IS CURRENTLY USED AS AN ADDITION LIVING ROOM. GREAT FOR MOTHER IN LAW SPACE, TEEN SPACE, NANNY SPACE...SO MANY OPTIONS! THE MAIN MASTER SUITE IS LARGE AND FULL OF LIGHT DUE TO THE WALL OF WINDOWS. MASTER BATH OFFERS A DOUBLE GRANITE VANITY, GARDEN TUB, SEPARATE SHOWER AND AN ENORMOUS WALK IN CLOSET. THE 2 ADDITIONAL BEDROOMS SHARE A JACK AND JILL BATH WITH A DOUBLE VANITY. HALF BATH FOR YOUR GUESTS. THE REMAINDER OF THIS BEAUTIFUL HOME OFFERS AN OPEN FLOOR PLAN TO INCLUDE A BEAUTIFUL KITCHEN WITH GRANITE COUNTER TOPS, ISLAND AND AN ABUNDANCE OF CABINETS, BREAKFAST NOOK, LIVING ROOM, FORMAL DINING/OFFICE SPACE, AMPLE WINDOWS AND HIGH CEILINGS. THE LAUNDRY ROOM IS OVERSIZED AS YOU'LL SEE FROM THE PICTURES. THE ADDITIONAL STORAGE SPACE IS GOLD THESE DAYS! ENJOY YOUR 3 CAR GARAGE FOR PARKING, HOME GYM OR EVEN MORE STORAGE. NICE TO HAVE OPTIONS.

Estimated
Seller's interest rate
2.625%
7%
Estimated
Principal & interest
$1,267/mo.
$2,001
You may also save up to $231,430 in total interest paid.
Listing price
$470,000

Your cash down payment
$181,736
Seller’s estimated current equity is $181,736
To assume this mortgage you must cover the seller’s equity by using your cash or by combining your cash with a 2nd mortgage.
Estimated $1,267 monthly payment

Financed
$288,263
Assumed mortgage 2.625% • Seller's rate
$288,263
2nd mortgage 9.25% • No prepay penalty
$0

Interest rate and monthly payment estimated based on public records.

Roam helps you take over the seller’s lower interest rate 1
We help you assume the seller's mortgage and avoid higher prevailing market rates.

30-day closing guarantee 2
We work directly with the mortgage servicer to help you quickly and easily close the transaction.

VA loan
Eligible for investors
Not a veteran? You may still be qualified to assume the mortgage.
Location
Details
Home
Size
2,785 sqft
Lot size
0.42 acres
Year built
2020
Type
Single Family Residence

Source: PENSACOLA #653529

Loan
Remaining term
26 years, 3 months
Rate
2.625%
Monthly P&I
$1,267
Remaining loan balance
$288,263

Source: Public records

How it works

Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.

Tour

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.

Offer

Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.

Close

Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 30-day close.

Who can qualify

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.

Frequently asked questions

What is Roam?

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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?

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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?

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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?

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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?

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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.

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Last updated: Dec 25, 2024 12:12 am
Listing agent: Sabrina Lawyer (850) 384-6328
Listing provided courtesy of: HomeSmart Sunshine Realty (850) 857-8515
Details provided by PENSACOLA and may not match the public record.
MLS ID: #653529
The data relating to real estate for sale on this website comes in part from the Internet Data exchange (IDX) program of Pensacola Association of REALTORS®, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by brokerage firms other than Roam Brokerage, LLC are governed by the PAR Rules and Regulations and detailed information about them includes the name of the listing companies. Information herein is believed to be accurate and timely, but no warranty as such is expressed or implied. Copyright © 2024 Pensacola Association of REALTORS®, Inc. All Rights Reserved.
Fair Housing Act logo Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.
Disclaimers
1 Roam connects buyers and sellers to homes with assumable mortgages via a concierge service. Roam does not offer or engage in mortgage lending activity.
2 30 day guarantee is subject to credit approval by your loan servicer.
3 The assumable interest rate shown for this assumable mortgage is an estimate using the average of interest rates in this home's area at the time of the last sale. The actual assumable interest rate may differ. Estimated payments do not include taxes and insurance premiums. Actual payments will be greater with taxes and insurance included. Roam connects buyers and sellers to home with assumable mortgages via a concierge service. Roam does not offer mortgage loans, extend credit, make credit determinations, or otherwise engage in mortgage lending or brokering activities. The lender makes all credit and qualification decisions with buyers. Any determination to extend credit to a buyer is a decision by the lender, and not by Roam.
4 The lender makes all credit and qualification decisions with buyers. Any choice to extend credit to a buyer is a decision by the lender, and not by Roam.
$1,267/mo
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