795 Farmington Rd, Pensacola, FL 32504
3 beds · 2 baths · 2,054 sqft
This beautifully crafted, custom-built home is ideally located in the heart of Pensacola, just minutes from premier shopping, medical centers, and a wide variety of excellent restaurants. The spacious, open floor plan features a welcoming family room with built-in cabinetry framing a cozy gas fireplace. The chef’s kitchen is a true standout, offering custom cabinetry, granite countertops, and a central island with a breakfast bar, perfect for both cooking and entertaining. Adjacent to the kitchen is the formal dining room, showcasing hardwood floors and French doors that lead to the front covered porch—ideal for enjoying the outdoors. Crown molding adds an elegant touch, flowing from the entryway through the home and into the large primary suite. The expansive walk-in closet conveniently connects to the luxurious en-suite bath, which includes a soaking tub, an oversized tile shower with dual shower heads, and a built-in sitting area. A double vanity and a separate water closet complete the spa-like bath. Two additional bedrooms provide generous closet space and are perfect for family members or guests. An attached double garage offers ample storage and covered parking, with easy access to the home. For outdoor living, step outside from the primary bedroom or family room onto the covered back patio, equipped with a sink—ideal for grilling, gardening, or relaxing in the fresh air. Perfect for families at any stage, this home combines quality craftsmanship, modern amenities, and a prime location for ultimate convenience. Photos with furniture are virtually staged!
Source: PENSACOLA #655811
Financials
Source: Public records
Source: PENSACOLA #655811
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.