5985 FOREST BAY AVE, Gulf Breeze, FL 32563
Open House 8/24 12-2! Better than Brand New, this stunning 4 bed 3 bath home, is priced well below the competition and offers fantastic updates throughout. Forest Estates is kid friendly neighborhood with sidewalks and large community pool and picnic area. You will love coming home to this craftsman with manicured lawn, oversized 3 car garage and welcoming solid custom wood front door. As you enter, you will notice the elegant boho modern space that is airy and casual. Beautiful Luxury Vinyl Plank flows throughout soaring high ceilings with recessed lighting and oversized thick baseboards and trim. Trey ceiling, oversized fan, and the immense custom painted island anchor the room. In the main living room the trimmed entertainment space with sconces is a lovely focal point. The great room is ideal for entertaining completely connected to the living and dining area. Imagine all the guests you can have in one space! In the kitchen soft close elegant shaker cabinetry, stainless appliances and custom deep pantry are ideal. Fantastic midcentury style pendants hang above the island with plenty of seating. In the baths you will find beautiful fixtures, lighting, and hardware that add a designer feel to this elegant well cared for family home. The laundry room with built in shelving is highly functional and a recent update and, in the garage, you will find more than enough space for projects, or toys. Toward the back you will find the private master bedroom with oversized walk-in closet and shower with jetted tub and glass shower, and double vanities. Rounding out the bedrooms, two nice sized bedrooms toward the front of the home and a perfect office or guest room offers privacy towards the back, with its own full-sized bath for ease of access. Outside you will find a fully fenced nice sized yard perfect for the kids, and a lovely open patio for relaxing, with playhouse! Get your offer ready at this price it won't last!
You may be able to put down less than the total down payment amount of $134,556 and have the rest of the funds financed with a 2nd mortgage from a lender. 4
Location
Details
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 45-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?
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.
Will an assumption work for me?
An assumption might be a suitable option for you if you meet the lender’s qualifications. We also offer Roam Boost to help buyers reduce the down payment required to a minimum of 5-15%. See below for more FAQs specific to Roam Boost.
Why do buyers use Roam?
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Roam helps home buyers find and purchase homes with a low-rate assumable mortgage included. Once you find your dream home, Roam manages the process of assuming a low-interest rate mortgage, helping buyers save thousands a year on mortgage payments compared to buying with a traditional mortgage at today’s rates. On average, buyers who use Roam save $15,000 in mortgage payments annually.
MLS ID: #651018