461 NW Shelby Ter, Lake City, FL 32055
4 beds · 3 baths · 2,919 sqft
Under contract-accepting backup offers. Perfect multi-family home! Assumable 3.5% VA loan!!! Price reduction!!! Come see the details and storage in this quality built home! Welcome home to Gwen Lake! Beautiful brick home, immaculately kept, spacious, and gorgeous vinyl chain link fenced backyard. Drive up and enjoy the circular drive, well-manicured lawn, double carport & 1-car garage. The backyard features a dock on Gwen Lake, paver patio, and a large screened porch with hot tub! Quiet neighborhood. The home has space for everyone and all living areas are on one level. This home features extensive crown moulding and numerous built-ins. Storage is plentiful in this home! There is also an attic for additional storage and a large storage building outside that has power to it. There is an additional Master suite w/spa & lakeview off the open kitchen that features natural gas cooktop, wall oven, dishwasher and breakfast area. This spacious home also features a great room with fireplace, separate dining, office, and 3 additional bedrooms, including a master bedroom & 2 baths. No need to worry about the AC, its brand new and it comes with a transferable warranty! There is a 2nd AC that has been serviced regularly. Home is already set for a whole home generator. Come explore this home and enjoy peaceful living while being close to everything Lake City has to offer.
Source: STELLAR #gc521090
Source: STELLAR #gc521090
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: #gc521090
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.