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
You may be able to put down less than the total down payment amount of $306,473 and have the rest of the funds financed with a 2nd mortgage from a lender. 4
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.
Will an assumption work for me?
An assumption might be a suitable option for you if you meet the lender’s qualifications. We also offer Roam Boost to help buyers reduce the down payment required to a minimum of 5-15%. See below for more FAQs specific to Roam Boost.
Why do buyers use Roam?
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step. Roam helps home buyers find and purchase homes with a low-rate assumable mortgage included. Once you find your dream home, Roam manages the process of assuming a low-interest rate mortgage, helping buyers save thousands a year on mortgage payments compared to buying with a traditional mortgage at today’s rates. On average, buyers who use Roam save $15,000 in mortgage payments annually.
MLS ID: #gc521054
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.