1717 SW 63rd Ave, Gainesville, FL 32608
5 beds · 4 baths · 2,512 sqft sqft
One or more photo(s) has been virtually staged. Welcome to your home, where two distinct wings seamlessly blend into one exquisite residence. This captivating 5-bedroom, 4-bathroom property combines the charm of Classic Florida architecture with the convenience of modern living. Situated on two wooded acres adorned with hickory, oak, and magnolia trees, this unique abode offers a serene escape while being conveniently close to downtown, Shands and UF. The first wing, a single-story gem, boasts a timeless Classic Florida style with varnished heartwood pine floors and trim. This features 4 bedrooms, 2 bathrooms, and a deck that beckons you to unwind and enjoy the natural beauty that surrounds. Perfect for those seeking single-level living, this wing exudes warmth and character. The second two-story wing presents a versatile layout, complete with a potential in-law suite that has a kitchenette and inviting living room. This space offers endless possibilities, with a private entrance and bath, enhancing the potential for a rental property, providing both comfort and privacy. Embrace the rich history of this home, with ties to the local treasure Paynes Prairie. Recent updates include a remodeled kitchen and kitchenette, modernized bathrooms, and new appliances, all enhancing the home's appeal. Seize the chance to own a residence that transcends the ordinary, with the allure of Classic Florida design and income-generating possibilities!
Source: STELLAR #gc525505
Interest rate and monthly payment estimated based on public records.
Source: STELLAR #gc525505
Source: Public records
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
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.
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
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.
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: #gc525505