23122 NW 11TH RD, Newberry, FL 32669
Contemporary and elegant describe this 1,616 3-bed/2-bath concrete block Maronda home in the much sought-after community of Newberry Oaks! Featuring lovely architectural details and high-quality finishes, this home is beautifully adorned with hardwood floors, vaulted ceiling, open concept floor plan, huge patio with pavers and 10 x 30 pergola, and a NEW ROOF coming soon! Entering the home, you will find yourself in a welcoming foyer that opens to the vast living space, which includes a formal dining room, living room, and family room with sliding glass doors leading to the backyard. Just beyond the formal dining room and overlooking the living room and family room is the large kitchen, perfect for culinary enthusiasts with its new stainless steel appliances, granite countertops, and breakfast nook. A split bedroom plan has the guest bedrooms and full guest bath to the left as you enter the home. Off the family room at the back of the house is the luxurious primary suite with walk-in closet, double vanities, walk-in shower, bathtub, and water closet. When entertaining guests, you will want to treat them to the shaded patio where you can comfortably host a large gathering while watching little ones play in the fenced backyard. The property includes a firepit, landscape lighting and an irrigation system in the front and back yards, and on the pergola. Additional bonuses include a parking pad for a boat or RV, newer hot water heater (2021), newer fence (2020), green space behind the property, and NO HOA FEE! Ideally located, the community of Newberry Oaks is about 10 miles from Gainesville and access to I-75, 7.5 miles from the Town of Tioga, 2 miles from Newberry, and just 1 mile from the popular Alachua County Agriculture and Equestrian Center. With such an appealing home, lot, and location, you won’t want to wait!
You may be able to put down less than the total down payment amount of $112,266 and have the rest of the funds financed with a 2nd mortgage from a lender. 4
Location
Details
How it works
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Tour
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.
Offer
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Close
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
Who can qualify
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.
Frequently asked questions
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: #gc522211