2525 NW 38th Dr, Gainesville, FL 32605
4 beds · 2 baths · 2,274 sqft sqft
This charming pool home is located in the beautiful neighborhood of Wood Creek in the Millhopper area. Conveniently located near Publix and Fresh Market, your choice of restaurants and bakeries are around the corner, and after you do, take a stroll though the Shoppes of Thornebrook. This home boasts fabulous curb appeal with lush landscaping and warm brick exterior that surrounds the front entrance. As you enter the foyer, the living room is to right and is connected to the formal dining area. The large primary bedroom/bathroom has direct sliding glass door access to the patio pool. The kitchen is conveniently located next to the breakfast nook, formal dining area, as well as the family room and patio. Skylights add to the natural ambience of the home. 3 more spacious bedrooms with plenty of living space or an extra room for a studio/office. One of these bedrooms also features sliding door access to the patio/pool. There is a separate laundry room and a 2nd bathroom with patio/pool access to help keep the rest of the home dry. Entertain friends and family on the screened in patio, with in ground pool, and large backyard. Or choose to spend a quiet evening cooling yourself off after some yard work on a Florida summer day. When the temperature drops, you can keep warm and cozy by the fireplace in the family room. Located near Santa Fe College and Spring Hill medical center, this home is a must see.
Source: STELLAR #gc521054
Interest rate and monthly payment estimated based on public records.
Source: STELLAR #gc521054
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: #gc521054
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