12171 NW 158th St Alachua, FL 32615
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About this home
Looking for a home you can make your own? This spacious property in Savannah Station is one of the rare larger floor plans, offering 1,730 heated and cooled square feet, a two-car garage, and a brand-new roof (2024)! With solid bones and great flow, this home is ready for your personal touch and cosmetic updates to bring it to its full potential. As you enter, you’re welcomed by cathedral ceilings and a bright, open living area with space for formal dining. To the right, a hallway leads to two comfortable guest bedrooms and a full bath with a tub/shower combo. The kitchen overlooks the living room and includes a cozy breakfast nook, perfect for casual meals or morning coffee. A laundry closet is conveniently located near the primary suite, which features an ensuite bath and walk-in closet ready for your finishing touches. Step outside to enjoy the fully fenced backyard and screened-in porch, ideal for relaxing or entertaining. Located in the welcoming community of Savannah Station in Alachua, you’ll enjoy quiet streets, sidewalks, and a neighborhood park with fitness stations and playground. Just minutes from historic downtown Alachua, I-75, and an easy drive to Gainesville, it offers small-town charm with city convenience and a low HOA that keeps living affordable.
Source: STELLAR #GC535055
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FAQs
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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.