4176 Morristown Rd Jay, FL 32565
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About this home
**Price Improvement**This welcoming 4-bedroom, 2-bathroom home sits on a beautiful 1-acre lot with a fenced backyard—perfect for outdoor enjoyment. Inside, you’ll find a bright and open living area flowing seamlessly into the dining area and kitchen, complete with a cozy fireplace. The main living areas feature luxury vinyl plank flooring, while the bedrooms offer comfortable carpet. Enjoy both a covered back porch and a charming front porch accented with custom wood columns—ideal spots to relax and take in the views. There’s also space for a sitting area under the carport. A large pantry off the kitchen adds convenient storage, and a versatile bonus room in the center of the home is perfect for an office, study, or hobby space. The sunroom provides additional space for crafts or projects. With its spacious layout and inviting features, this property offers plenty of room to make it your own—inside and out. Schedule a private tour today - If important, buyer to verify all information and measurements.
Source: PENSACOLA #671667
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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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.