Rarely do you find property that balances over 2,000 square feet of comfortable living space with the unrestricted freedom of a 5-acre lot! Upon entering the home you will be drawn to the expansive living and dining room combination’s focal point: a stunning wall-to-wall stone wood-burning fireplace, rising floor-to-ceiling to create an atmosphere of rustic warmth, complete with built-in bookshelves perfect for showcasing a personal library or family treasures. An easy connection leads to the huge kitchen, which boasts an abundance of cabinets and counter space, and a large breakfast bar, making it the true heart of the home. Strategically located off the kitchen, you will find a versatile den that serves as an ideal home office or quiet reading room, alongside a conveniently placed laundry room complete with washer and dryer. The home’s layout ensures privacy with a dedicated hallway leading to the bedrooms. This wing features two guest bedrooms and a full guest bath, while the primary suite offers an ensuite featuring a shower/tub combination and convenient linen closet. Outside, the 5-acre parcel is a true sanctuary for those who value both work and play. The land is fully fenced and includes a picturesque pond with its own deck, equipped with power and water for ultimate relaxation. Car enthusiasts and hobbyists will fall in love with the double carport and the specialized workshop, which features two rails specifically for working on vehicles. A natural wooded area at the rear of the property offers a scenic backdrop and a deep sense of seclusion. This expansive acreage is perfectly suited for those looking to establish a homestead, install a swimming pool, or store recreational equipment without the constraints of a subdivision. Despite the quiet country setting, the location remains highly practical, providing a straightforward commute to Gainesville’s medical facilities, shopping, and dining, as well as easy access to Lake Butler and Alachua. Whether you are looking for room to breathe or a solid foundation to customize into your dream estate, this property stands out as a versatile and high-value opportunity in the North Central Florida market. Schedule your appointment today to secure your piece of the country and enjoy the peace and potential that only 5 acres can provide!
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.
