4713 Bayside Dr, Milton, FL 32583
3 beds · 2 baths · 2,260 sqft
VA Assumable Loan! Waterfront home tucked away in Bayside Community overlooking Escambia Bay. Easy access to I-10. As you enter the property the circular drive makes for a big welcome for your guest. This contemporary waterfront home is an open floor plan that allows you to enjoy the bay view as you enter the foyer with a wall of windows in front of you! The beautiful light and bright kitchen is adorned with can lights, granite counters w/backsplash and undercabinet lighting. The kitchen is equipped with a gas range and upgraded appliances. You'll also find a gas grill built in for entertaining on the porch. The Living room features a gas fireplace. A Rinnai water heater for hot water on demand. There is a propane tank installed that services all gas appliances. The Master suite has 2 closets, French doors open to the porch overlookthe bay, the bath has double vanities, separate shower and claw foot tub. The split bedroom design is great for privacy. Both bathrooms have ADA compliant toilets, hallways are 4' wide. The laundry room has a freezer space, built in ice machine, laundry hanging area, a closet for housekeeping supplies and cabinets. Outside you will enjoy the 56' porch adjacent to the living area and 2 bedrooms with 3 french doors for access. A great place to enjoy sunrise with morning coffee, and afternoon sunsets. PGT Wingard Impact windows are installed, no need to worry about hurricane shutters or panels. Spray foam insulation is in the roof and subfloor. Exterior siding is hardiboard for low maintenance and vinyl soffits. This home was built at an elevation of 18'. Lower level features a workshop area with 4 garage doors and plenty of storage. The garage is equipped with multiple 220 wiring for compressor and a car lift. The list of additional items prewired/pre plumbed for future amenities, including water, power for a sprinkler system and future dock. Pre wiring for a generator is also in place. The foyer chandelier does Not convey.
Source: PENSACOLA #661780
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Why Roam
Gap financing to lower your down payment
Unlock down payments as low as 5% – only with Roam
5x the likelihood your offer is accepted
If a purchase takes longer than 45 days, we’ll cover the seller’s mortgage until you close
Close faster and stress-free
We close 2x faster because of our deep experience and lender relationships
Rates and payments are estimates based on public records.
Source: Public records
Source: PENSACOLA #661780
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. When you apply for the loan, you must attest that the home will be your primary residence for 12 months to be approved for an FHA assumption. Most lenders will ask that you move in within 60 days.
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 “Save search” 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 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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.