509 Downhaul Dr, Pensacola, FL 32507
3 beds · 4 baths · 2,786 sqft
Welcome to this gracious Craftsman-style home in an upscale neighborhood that blends luxury, charm, and coastal elegance. Designed with an open floor plan and 25' soaring ceilings in the living area, this residence is bathed in natural light, creating an airy and inviting atmosphere throughout. Built-in book cases frame the fireplace, creating a relaxing area perfect for both entertaining or enjoying quiet family moments. You may want to only sit back and look at this beautiful kitchen, but it's been lovingly designed with thoughtful touches perfect for any family chef - including a copper apron-front sink, undercabinet lighting, two-year new convection oven, RO water filtering and absolutely stunning Prada quartzite countertops. Double sets of new French doors will lead you to an expansive deck complete with open sitting areas or cozy outdoor dining under the pergolas - perfect for relaxing or entertaining against the backdrop of professionally landscaped gardens. There is plenty of room for a pool, in fact, plans for a cocktail pool are available and have been HOA approved. The downstairs master with a private entrance to the attached deck, is enhanced by the ensuite bath with jetted garden tub and separate shower. The two upstairs bedrooms are linked together with a common sitting area perfect for lounging, office, or media space, and both additional bedrooms have their own full bath. Outside, a graceful walkway pergola leads to a spacious 2-car detached garage on an additional half-lot, complete with 220V charging station. White oak hardwood floors, Anderson windows, surround sound, and so many more upgrades - you won't be disappointed in this beautiful home situated in a community with access to a community pool and scenic park. This residence combines the best of luxury living with a 2021 Roof, 2022 Water heater, and termite bond in place. Be sure to check out the virtual tour link!
Source: PENSACOLA #656313
Interest rate and monthly payment estimated based on public records.
Source: PENSACOLA #656313
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: #656313
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.