202 NW 20th Ave Gainesville, FL 32609
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About this home
Prepare to be impressed by this compact gem in NW Gainesville! This home feels much bigger than its 576 sq ft footprint, thanks to its thoughtful layout and recent updates. Located on a corner lot with a privacy fence, this 2-bed, 1-bath home features gorgeous vinyl plank flooring and a show-stopping kitchen, remodeled in 2022 with a full suite of high-end, matching stainless steel Samsung appliances. The bright living room welcomes you inside and opens to the sleek kitchen. Two good-sized bedrooms and a full bath with a tub/shower combo offer a peaceful escape. Step outside to a small screened porch with convenient laundry hookups. This property offers all the perks of homeownership without the hassle of extensive housework and yard work. It is perfectly situated to enjoy the best of Gainesville, with quick access to UF, lively entertainment, and a variety of great restaurants and shopping. The nearby bus line makes getting around a breeze. Whether you are looking for a starter home, investment, or downsized dwelling, the upgrades, location, and price can’t be beat. Schedule a showing of this small home today before you miss out on this big opportunity!
Source: STELLAR #GC533071
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Close stress-free in 45 days, handled start to finish by Roam.
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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.