5954 Palermo Dr Milton, FL 32571
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About this home
NEW LOWER PRICE!! Small yet quaint neighborhood that offers a sense of community for its residents. This home offers 4 Bedrooms, 2 Full Baths with a "open concept" living area which is great for the family. Expansive kitchen is a true "eat-in" kitchen which features maple wood cabinets, wraparound breakfast bar, large pantry, lots of counter space and all the appliances you need including the refrigerator (which shall convey AS IS ). Seller has updated the built in microwave and the dishwasher as well. The kitchen opens into the living are which is perfect for families with little ones , keeping an eye on them while cooking dinner is a must! The spacious master suite features a huge walk-in closet while the master bath offers double vanities, large linen closet for extra storage, and a private water closet. The guest bedrooms are spacious with large closets and offer a bit more space than some of the new homes on the market. The seller just installed brand new lush StainMaster "Petprotect" carpet in all the bedrooms. It comes with a lifetime warranty for stains and it is pristine and untouched! The living room, kitchen and baths have luxury vinyl for easy care and even easier cleanup. There are two inch blinds throughout the home and ceiling fans as well. The homeowner has had a very nice covered patio area built so you can have a reprieve from the elements when you have the family cookouts. You can put up a nice patio set, swing or playset in this space yet there is still plenty of backyard for ball practices, swing set and that garden you have always wanted to start. This home is in the WONDERFUL and highly desired Pace School System and it is 20 minutes to Whiting Field, 45 minutes to NAS Pensacola and 35 minutes to the beautiful Pensacola Beach.
Source: PENSACOLA #668977
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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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