6043 Spanish Oak Dr, Pensacola, FL 32526
3 beds · 3 baths · 2,731 sqft
Nestled in a picturesque neighborhood with majestic oaks, this beautiful home offers convenience and privacy on a sprawling two-acre lot. The serene setting is ideal for those seeking tranquility without sacrificing accessibility. The home features formal living and dining rooms, a cozy family room, and a spacious kitchen with ample cabinets, countertops, and a breakfast bar. There are three bedrooms with new luxury vinyl plank floors, two bathrooms, large bonus room off of family room and a large laundry/pantry/utility room. A two-car garage includes a versatile space that can serve as a shop or an in-law suite, complete with a full bathroom. The property boasts a stunning 24,000-gallon heated, screened-in saltwater pool with a new pump, ninja coating on the concrete, and a Polaris cordless pool vacuum. The expansive screened porch overlooks the pool and patio. Along with a fenced in back yard for your fur babies! Modern amenities include three hot water heaters, a gas tankless Rinnai, a 25kW Generac natural gas generator with automatic changeover, custom shutters on all windows, solar tube skylights, high-speed internet, an irrigation well, public water, hurricane shutters, impact windows, and ventless gas logs in the free-standing fireplace. The roof was installed in December 2021, and the home is wired for a security system. Situated minutes from Pensacola NAS, Saufley Field, beaches, downtown areas, restaurants, shopping, medical facilities, and educational institutions, the property also includes a fenced backyard with mature trees and a sprinkler system. The home has a current 2.375% VA Assumable Mortgage. Perfect for family living and entertaining, this home offers a blend of casual and formal spaces in a serene, yet conveniently located setting.
Source: PENSACOLA #647582
Source: PENSACOLA #647582
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: #647582
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.