3795 Cotton Gin Ln, Milton, FL 32571
4 beds · 4 baths · 3,380 sqft
Beautiful custom home on 4.22 acres that is well designed, well built, and well appointed.This lovely home is situated at the end of a cut-de-sac in the highly desirable and rarely available, NOBLES PLANTATION. The gated entrance leads to the long and stately drive in to small community of only 14 lots. Each lot is approx 4 or more acres and offers a much needed place to call home and have all "the things" you desire in your home. There is a a 40 x 40 barn/workshop with two roll up garage doors and a 10 x 40 covered breezeway. There is a a private well that provides irrigation for the entire 4.22 acres to keep the grass green and the trees growing. This is a very deep lot that offers a great deal of potential for future plans. The home is well built with attention to detail at every turn. Designed personally by the seller, this home was built with family in mind. The main family room is spacious and offers a large built-in entertainment center with a gas fireplace and expansive book cases. The cabinets are real heavy duty wood and kitchen offers deep drawers for pots and pans and a massive amount of storage. Double ovens, center island and a gas range. Everything is "oversized" in this home including large breakfast room , 18 x 12 formal dining room and the super sized laundry room . Guest bedrooms have large closets and they share a jack and jill bath as well as a common area with a desk and a guest wall-inset single bed for your sleepovers or stuffed animals. The master bath is exquisite with high double vanities and a walk in shower that is so large it has two entrances . Large soaking tub, private water closet and two closets as well. There is a sun room that is bathed in light as well large flex room that could be a fourth bedroom . (Currently used as a study.) It has a powder room and hall closet just outside the room.) So much to tell, not near enough room to do so. Come and take a private tour and fall in love with this lovely home and property.
Source: PENSACOLA #658873
All values shown are estimated costs / mo.
Source: Public records
Source: PENSACOLA #658873
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.
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.
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.
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.
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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.
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 620, 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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