1717 SW 63rd Ave, Gainesville, FL 32608
5 beds · 4 baths · 2,512 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.
How can you find assumable mortgage listings?
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 “Get Notified” 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.
How do I qualify for an assumable mortgage?
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.
MLS ID: #gc525505
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.