This is an incredible opportunity in one of Gainesville’s hidden gem communities, Hammock Ridge. Situated on over an acre of land, this beautifully laid out 4-bedroom, 2-bathroom home offers exceptional curb appeal, a spacious two-car garage, and a rare combination of privacy and usable space. With select updates already in place and clear upside remaining, this property presents a compelling opportunity for both investors and end users alike. Set on an oversized lot in a quiet setting, the property features a long, curved driveway with ample parking and strong curb appeal. Mature oak trees provide natural shade, while generous spacing between homes offers privacy and flexibility for outdoor living or future improvements. Inside, you’re welcomed into a bright, open living space with vaulted ceilings and abundant natural light. The layout flows seamlessly from the living area into the dining space and kitchen, creating an ideal setup for everyday living and entertaining. The kitchen features ample cabinetry, a functional layout, and a breakfast bar that keeps it connected to the main living areas. Clean and livable as-is, the interior offers excellent potential for modern upgrades and customization. The bedroom layout is well-designed, with generously sized rooms, ample closet space, and strong natural light throughout. The primary suite offers a spacious layout with tray ceilings, a large walk-in closet, and the potential to be transformed into a true retreat. Bathrooms are functional and well-sized, including a primary bath with dual vanities, a walk-in shower, and a soaking tub, offering solid bones for future upgrades. The expansive backyard sits on over an acre of land, providing endless potential for customization, entertaining, or future additions such as a pool. The open layout offers privacy, flexibility, and space to create a true outdoor retreat, making this property equally appealing for end users and investors looking to add value. Major components have been addressed, including a newer AC and water heater (approximately 2 years old), a recently serviced septic system, and a well in place. The roof is approximately 13 years old and in good condition, with electrical and plumbing systems functioning properly. Located in a community with a low HOA of approximately $110/month, offering a laid-back structure with minimal restrictions (buyer to verify), this property combines space, flexibility, and upside in one of Gainesville’s most desirable low-density settings. Whether you’re an investor looking for a clean value-add opportunity or a buyer seeking space and potential, this property stands out as a rare find with strong upside and long-term appeal.
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.
