8535 COVE AVE, Pensacola, FL 32534
Welcome to your dream home! Nestled in a serene and peaceful neighborhood on 1.26 acres of lush land, this impeccably renovated 4-bedroom, 2-bathroom residence exudes charm and sophistication at every turn. As you step inside, prepare to be captivated by the seamless fusion of modern luxury and timeless elegance. The heart of the home, the living room, welcomes you with its original restored hardwood floors that exude warmth and character. An exquisite accent wall adds a touch of contemporary flair, setting the tone for the impeccable design found throughout. The fully upgraded eat-in kitchen is a culinary masterpiece, featuring pristine white quartz countertops, sage cabinets adorned with beautiful hardware, and state-of-the-art stainless steel appliances. Illuminated by a timeless Meyda Tiffany stained glass light, the kitchen invites you to savor every meal in style and comfort. Adjacent to the living room, discover a spacious 21x11 studio space, heated and cooled with an energy-efficient mini-split system, offering endless possibilities for creativity and relaxation. The bedrooms boast the same elegant hardwood flooring and generous closet space, providing comfort and tranquility for every member of the household. The owner's suite is a sanctuary unto itself, boasting a walk-in closet and a tranquil bathroom retreat. Indulge in the ultimate relaxation experience with a luxurious double slipper pedestal tub or invigorate your senses with a rejuvenating shower featuring a river rock floor. This home is not only aesthetically pleasing but also thoughtfully upgraded for maximum comfort and efficiency. With new windows installed in February 2021, a new roof in January 2022, HVAC system installed in March 2020, and a water heater added in June 2021, you can rest assured knowing that your home is equipped with the latest in modern conveniences and energy-saving features. Not to mention Solar Panels on this home also!
You may be able to put down less than the total down payment amount of $32,323 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: #641634