3093 Wallace Lake Rd Milton, FL 32571
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About this home
***MOTIVATED SELLER!!*** THIS HOME HAS IT ALL! This beautiful 4 BR/3.5 Bath brick home is an entertainer's dream! With it's open floor plan, vaulted ceilings, stained concrete flooring (except for the 4 carpeted BR's) large screened-in porch and massive new deck with cascading stairs -- all on a little over an ACRE! There is also a 16x16 shed with power and A/C and a huge 30x44 workshop out back with extra concrete and space for an RV, boat or other toys! There is no HOA is this neighborhood and homes sit on large lots. As you enter, you will notice the custom wood accent wall in the dining room to your right, as well as a room to the left that could be used as a study, bedroom, or home gym. The large kitchen has tons of cabinet and counter space and 3 pantries! The flow of this home is amazing and unique! Each bedroom has 9' ceilings and a walk-in closet. There is a game room connecting the bedrooms on the left side of the home. You literally have a room for everything and storage galore! This split plan has the Primary BR off to the right, offering privacy as well as access to the screened back porch. The Primary bath is very spacious with lots of counter space and a beautifully remodeled, tiled walk-in shower, large soaker tub, as well as a large closet. The extra long driveway, oversized 33'x23'11" - 3 car garage, and the huge workshop allow ample space for additional vehicles, a boat, or space for an RV. Owner is leaving the newer washer/dryer (gas), John Deere riding mower, and 2 fridges for the new owner! Homeowner converted home to natural gas, but left the option for an electric dryer or water heater. Stove is currently electric, but has gas stub available. There is also a gas stub on the back patio area, if you ever wanted to install an outdoor kitchen. New HVAC units inside and out -2023, Water heater - 2022, attic has spray foam insulation!
Source: PENSACOLA #665872
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FAQs
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.
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.
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.
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.
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 “Save search” 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.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
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