Looking for that perfect mix of move-in ready combined with a great NW Gainesville location? Welcome to Capri. This 2 bedroom, 2 bathroom pool home was built in 1996 and has 1,268 heated and cooled square feet. Located on a quiet cul-de-sac you will love the neighbors who frequently have get togethers and dinners. Capri was developed by Phil Emmer and the neighborhood has a large clubhouse, community pool, playground and sports courts. The location is just 4 miles to the University of Florida, Santa Fe College or downtown Gainesville. Walk to nearby trails, bike paths and area shops and restaurants. Low monthly HOA of $94. The home has many features you will love including vaulted ceiling, wood floors, open floor plan, split bedrooms and fresh interior paint. The updates include roof in 2016, HVAC in 2024, pool in 2024 and interior paint in 2026. From the covered front entry, you enter the open Great Room with high ceilings, Brazilian oak pre-engineered wood floors and new interior paint. To the left of the front door is the guest bathroom. This has updated tile, large vanity and a tub/shower. To the left of the guest bathroom is the guest bedroom. It has a double closet, vaulted ceiling and wood floors. From the front door, through the Great Room, to your right is the kitchen. Heading into the kitchen is a laundry closet with a washer and dryer and extra shelving for storage. The open kitchen has a breakfast bar, pantry, ample room for storage and a dining area overlooking the backyard. To the right of the kitchen is the one car garage with shelving for storage and an automatic garage door opener. Off the other end of the kitchen/dining area is the Florida Room with cherry wood floors and a set of French doors leading to the covered, screened porch. Step out of the porch onto the paver patio surrounding the in-ground, heated pool. The yard is fenced and gated and includes irrigation, landscaping and Live Oaks. Total acreage is .17. Coming back into the house, through the Florida Room to your right is the Primary Suite. This room has fresh interior paint, wood floors and tray ceiling with a large window overlooking the pool. The en suite bathroom was updated with new vanity, fixtures and lighting. There is a large shower and walk-in closet. Zoned for Norton Elementary, Westwood Middle and Gainesville High Schools. A great home in an ideal, NW Gainesville location.
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.
