PRICE IMPROVEMENT! NO HOA! VA BUYERS TAKE NOTE — ASSUMABLE LOAN WITH AN INTEREST RATE IN THE 3% RANGE! If you've been searching for a home that truly adapts to your lifestyle, this is the one. With nearly 4,000 square feet, 6 true bedrooms, 4.5 bathrooms, multiple flex spaces, and an oversized 3-car garage, this property offers a level of versatility that's difficult to find at this price point. Whether you're accommodating a large household, multigenerational living, a blended family, homeschooling, long-term guest stays, work-from-home needs, a home-based business, hobby space, or even exploring income-producing opportunities like Airbnb, this floor plan provides the flexibility to make it work. The spacious kitchen and gathering areas create a natural hub for holidays, entertaining, and everyday life, while multiple living spaces allow everyone to spread out comfortably. Generously sized bedrooms can easily serve as guest suites, home offices, fitness rooms, study spaces, playrooms, or media rooms depending on your needs. Situated toward the back of the neighborhood and surrounded by wooded views, the home offers a sense of privacy and tranquility that's increasingly hard to find. Yet you're still just minutes from Gainesville, making it easy to enjoy both space and convenience. At approximately $141 per square foot, this property represents exceptional value for buyers seeking square footage, flexibility, and privacy without sacrificing location. In fact, finding a home with 6 true bedrooms, nearly 4,000 square feet, a 3-car garage, NO HOA, and an assumable VA loan in the 3% range under $550,000 is exceptionally rare in today's market. Buyers relocating from higher-cost areas will especially appreciate the amount of space and opportunity this home provides for the price. Conveniently located in the growing community of Newberry, with easy access to High Springs, Alachua, Gainesville, the University of Florida, UF Health, a new Publix, shopping, dining, and everyday conveniences. Flexible layout options include: • Multigenerational living • Private guest or in-law accommodations • Multiple home offices • Homeschool or study rooms • Home gym or hobby spaces • Media, gaming, or playroom areas • Short-term rental potential (buyer to verify local regulations) If you've outgrown the standard floor plan and need a home that offers room to grow, room to work, and room to live, this one deserves a closer look.
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.
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.
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.
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.
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 “Save search” 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.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
Yes. Non-veterans can assume a VA loan, provided they meet the lender’s VA criteria. When a qualified buyer assumes a VA mortgage from a veteran or active-duty service member, the seller’s VA loan entitlement remains tied to the assumed loan until the buyer pays off or refinances the loan. This process restores the veteran seller’s entitlement, enabling them to use their VA benefit for a future home purchase.
Yes. All FHA loans are assumable by law as long as the buyer meets the FHA’s credit, income, and qualification requirements and obtain lender approval before assuming the loan (per FHA regulations effected December 15, 1989). Roam makes this process simple for buyers.
Generally, conventional loans are not assumable. In rare cases, a conventional loan may be assumable with lender approval. Use our search tool to find homes with assumable low-rate loans, or reach out to us if you’d like to confirm a specific home’s assumability.
