You’ll fall in love with this beautifully updated 4 bedroom, 3 full bathroom concrete block home in Renewood, one of Gainesville’s most sought-after locations. Fully renovated in 2018, major updates include the roof, electrical, plumbing, HVAC, and water heater, offering peace of mind for years to come. Tucked along a quiet street just off NW 34th Street, this home makes an immediate impression with its inviting curb appeal. An oversized driveway leads to the one-car garage, a cozy covered front porch, and a custom sitting area that’s the perfect place to relax beneath the shade of a serene bamboo canopy. Step inside to a thoughtfully designed interior that blends contemporary style with timeless traditional elements. At the front of the home, a versatile guest bedroom or office features its own full bathroom and private exterior access, ideal for visitors, remote work, or multigenerational living. The spacious open-concept living and dining areas are defined by intentionally placed architectural columns and a contemporary built-in feature with ambient lighting. The dining space flows seamlessly into the fully updated kitchen, showcasing stainless steel appliances, bright custom cabinetry, beautiful stone countertops, and a peninsula bar with seating for two. Just beyond, a welcoming family room features built-in bookshelves framing a charming brick wood-burning fireplace, while French doors provide abundant natural light and views of the backyard. The remaining bedrooms are thoughtfully arranged for privacy. Two bedrooms and a shared bathroom sit on one side of the home, while the primary suite enjoys its own private wing. The primary bedroom offers a walk-in closet highlighted by an original glass block window, a private en-suite bath, and double sliding doors that open to the back porch. Outdoor living truly shines here. A large concrete patio and fully fenced backyard create the perfect setting for entertaining, gardening, relaxing around a fire pit, or creating multiple outdoor living spaces. Lovingly maintained and landscaped with native Florida plants, the yard is both beautiful and low-maintenance. Seasonal blooms bring vibrant color throughout the summer months. Renewood is a desirable non-HOA community within walking distance to Westside Park, the Loblolly Trail, and the neighborhood pool, all while offering a central Gainesville location convenient to shopping, dining, and the University of Florida. Homes like this rarely become available. Do not miss your opportunity!
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.
