2132 NW 7th Pl, Gainesville, FL 32603
4 beds · 2 baths · 2,110 sqft sqft
LOCATION, LOCATION, LOCATION - check out this University Park home within walking/biking distance to University of Florida for sale! This 4 bedroom/2 bathroom home (with a flex area) has so much charm and character with a stained glass entry & terrazzo foyer flooring, custom built in cabinets, vintage door knobs, & a woodburning fireplace! Currently, the home is being used as a single family home, but would also be a great investment property for college rentals or converted back to a home with an attached apartment, as it has entrances from both NW 7th Place & 8th Avenue! HVACs have been recently replaced (2020 & 2021) as well as the hot water heater (2020). The back yard is large and fully fenced giving a great space for entertaining, family, pets and also includes a storage shed for your outdoor toys! There is NO HOA and the home sits on an idyllically beautiful neighborhood street lined with large oak trees, quite a view from the large picture window in the family room! So conveniently located in Gainesville, this home has lots to offer - call to set up your private showing today!
Source: STELLAR #gc525248
Interest rate and monthly payment estimated based on public records.
Source: STELLAR #gc525248
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: #gc525248