420 Deerfoot Ln Cantonment, FL 32533
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About this home
Wooden frame 3/2 home, (on 9/10 Acre or 200x200 lot). Individual purchasers: You may qualify for a FHA 203K or VA Re-hab loan on this property. Talk to your agent or call listing agent for more details. Entrance Foyer;2 bedrooms and bath to the left. From Foyer to right is the separate dining area, leading into the kitchen. From Foyer straight ahead to living room area with a fireplace on south side of the building. Interior Laundry room is off the living room and kitchen area. The master bedroom is on the west side of the house entering from the kitchen; with a walk-in closet and double sink area leading into the bath. Property is in a Probate situation and time is of the essence; selling As Is; Buyers to understand court process and understand court needs to approve the contract and sale. See documents section, by clicking on the 'D' Icon around the main picture, for further reading, such as Initial Home Inspection Report after squatters removed. Seller is requesting short inspection period. Have your agent discuss situation with Listing agent to speed up process. Please perform your inspections and room measurements etc., to satisfy yourself, beyond what we will present to you or your agent.
Source: PENSACOLA #654675
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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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