2305 SW 73rd Ter Gainesville, FL 32607
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About this home
Welcome to a comfy 2 bedroom 1 1/2 bathroom townhouse condo located in the rear of a quiet neighborhood. Located a hop skip and jump from I-75, Newberry Rd and 34th Ave you can get anywhere within minutes. Tucked away you will enjoy a quiet night without loud noises. Recent upgrades include a new AC system less than a year and a half old. A new walk in shower big enough for two, roughly two years old. French doors lead you into a small back yard that has potential for small gatherings. In the living room to you have a wood burning fireplace for snuggling with loved ones or just relaxing watching the flames. The half bathroom is just off the kitchen and convenient while on the main floor out outside. The living room has bay windows allowing plenty of daylight when you want it. Second floor you will find the master bedroom located on the rear side with a decent sized walk in closet. You also have a spare sink with a large mirror and plenty of cabinet space. The second room has bay windows also with a small closet perfect for a child. Connecting the bedrooms is a jack and jill bathroom with plenty of counter space and the walk in shower. The owners were in the process of remodeling and updating top floor but had to stop due to needing to move north to help with family. If you don't mind putting in a little work you can turn this into your own gem of a home. With a little TLC you can make this what you want.
Source: STELLAR #GC532710
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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.
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