7100 PENINSULA DR, Pensacola, FL 32526
BACK ON MARKET AT NO FAULT OF SELLER and below appraised value! Clear WDO. Beautifully renovated ranch in a quiet neighborhood near NAS Pensacola! This spacious home has room for the whole family featuring over 2,000 square feet including three bedrooms, two full bathrooms, and a finished Florida room. Inside offers an open layout with contemporary finishes like fresh paint, recessed lighting, modern fixtures, and LVP floors throughout. The wide open living area and eat-in kitchen are ideal for entertaining allowing for easy flow from room to room. The stunning kitchen is sure to impress with its stainless steel appliances, granite counters, and ample cabinet space. It also has french doors that lead to the Florida room and a breakfast bar for extra seating. Down the hall are all three bedrooms including the primary suite. With a designated sitting area (perfect for a home office) and space for a king bed set, plus an amazing attached bath, the massive room won't disappoint. Speaking of the amazing ensuite, you have to see it to believe it. The huge bathroom has double vanities and water closet, as well as a soaking tub, tiled shower, and walk-in closet! The upgrades continue outside. In the privacy fenced backyard you'll find not one, but two outbuildings including a powered workshop, an above ground pool, and a brand new gazebo. This will be the best place to host family barbecues this summer!! Other amazing features included with this home are the ADT security system and 2 space carport!
You may be able to put down less than the total down payment amount of $107,254 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: #646955