3733 NW 56th Pl, Gainesville, FL 32653
2 beds · 2 baths · 1,160 sqft
VA assumable mortgage with a 2.49% interest rate with principal and interest payments of $535.14! Maintenance free living in Mile Run! Take a look at this 2 bedroom 2 bath single family attached corner unit in beautiful NW community of Mile Run. The one story end unit has vaulted ceilings in great room and dining area. Ceramic tile floors in the kitchen, bedrooms and baths plus wood parquet flooring in great room, hallway and dining area. The fully equipped kitchen had updated appliances and recent countertops. There is an enclosed Florida room/ bonus room towards the back with a laundry room and storage closet. The primary bedroom is spacious and has an adjacent bathroom and walk-in closet. The guest bedroom is also a good size and has a full bath right next to it. Unit comes with 2 reserved parking spots. Other updates include water heater in 2021, sink, counter, disposal and faucet in 2020, Fridge 2019, AC 2016. Mile Run community takes care of the exterior of the home, including the roof, yard and insurance for $225.00 per month. And for an additional $35 per month the Mile Run recreational area includes pool, clubhouse, playground, park, tennis court and racquetball court.
Source: STELLAR #gc522921
Source: STELLAR #gc522921
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: #gc522921
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.