4633 Bayside Dr, Milton, FL 32583
3 beds · 2 baths · 2,185 sqft
ZERO DOWN, USDA MORTGAGE APPROVED!!Welcome to the Bayside South Subdivision, where the beauty of nature meets the charm of waterfront living! This stunning home, showcasing breathtaking views of Escambia Bay, is situated on a half-acre lot just minutes from I-10. Discover a kitchen equipped with exquisite custom inset cabinets, stainless steel appliances, and a practical open floor plan, perfect for hosting family gatherings. The extra-large windows invite you to experience spectacular sunrises and sunsets, whether from the spacious sunroom or the custom 1,000 sq. ft. deck featuring a pergola that overlooks Escambia Bay. The backyard is a horticulturist's paradise, filled with a variety of plant species to admire. With soaring ceilings throughout, this residence is anything but ordinary. Enjoy the thoughtfully designed split floor plan, complete with a separate master en suite, garden tub, walk-in closets, and much more. The expansive living room provides ample space for family enjoyment and entertaining. Freshly painted, adorned with beautiful wood floors, and fitted with brand-new windows, this home offers a delightful living experience. Roof is only 3 years old-2021, Fridge, washer, dryer, dishwasher are 2024 models. stove is 2018.
Source: EMERALDCOAST #965854
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Why Roam
Lower rates and lower down payments
The only homebuying option for you to put 5% down and get a 5% rate.
Closing guarantee
We can close in 45 days or we’ll pay the seller’s mortgage until we close.
Offer acceptance
95% of offers accepted when made with Roam. 5% accepted without.
Rates and payments are estimates based on public records.
Source: Public records
Source: EMERALDCOAST #965854
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.
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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.