7113 Dale St, Pensacola, FL 32503
3 beds · 1 baths · 960 sqft
Welcome to this lovely three bedroom, one bath home! This is a perfect opportunity for first-time home buyers, growing families, or investors looking for a solid property. With a host of modern updates and a convenient location, this home offers both comfort and practicality. The house features a roof, HVAC system, and water heater all under 5 years old, ensuring new owners can enjoy peace of mind with these key systems in excellent condition. The interior boasts stylish LVP flooring throughout, offering durability and a modern aesthetic. The bathroom is thoughtfully designed with tile flooring and a standing shower, providing a sleek and functional space. The kitchen provides ample cabinetry, offering plenty of storage for all your culinary needs. Outside, the property includes a one-c ar carport for convenient parking, as well as a utility room for extra storage and W/D hookups. The fully fenced yard provides an enjoyable space for outdoor activities and houses a large storage shed/workshop with a new roof! Located near I-10 and just 15 minutes from downtown Pensacola, this home provides easy access to shopping, dining, and entertainment. Whether you're looking for a cozy place to call home or a smart investment, this property has everything you need. Don't miss your chance to own this versatile and well-maintained home.
Source: EMERALDCOAST #966910
Financials
Source: Public records
Source: EMERALDCOAST #966910
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.
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 “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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.