3225 SW 120th Ter Gainesville, FL 32608
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About this home
VA Loan Assumable at 4.5% RATE by a Veteran with available entitlement! Welcome to the award-winning resort community of Oakmont where this beautifully-appointed 2021-built home stands proudly on a nice corner lot. Surrounded by wide, inviting sidewalks, the home makes a striking impression with its sleek contemporary elevation. A paver-lined driveway and walkway lead to the tall, elegant front door, setting the tone for the stunning interior that awaits. Find the guest beds and hall bath on your left. Step into the bright and wide gallery foyer, and this home gracefully unfolds into the heart of the living space-an open concept great room, kitchen, and dining area wrapped in glass with its generous windows and stackable sliders. The gourmet kitchen is a true showpiece, hosting custom and tasteful finishes, and impeccable design that's sure to inspire envy. The beautiful kitchen and island overlook the great room, featuring a statement wall with gas fireplace. The space is grounded by luxury vinyl plank flooring that adds both style and durability throughout. Retreat to the primary suite tucked at the back of the home, where you'll find a generously sized bedroom that flows into a luxurious bath. Enjoy a large glass-enclosed shower with niche, double vanities with a dedicated make up area, and a spacious walk in closet. Step outside to a fully fenced backyard or lounge at your spacious paver-lined covered porch- perfect for relaxing or entertaining. Experience the exceptional lifestyle Oakmont offers, with resort style amenities including stunning pools, a fully equipped fitness center, dance/yoga studio, tennis courts, BB court, volleyball, upcoming 4 Pickleball courts (pls verify), a scenic turtle preserve. Enjoy expansive green spaces and a beautifully designed banquet room that rivals those of luxury hotels. The property taxes listed includes non-advalorem assessments of CDD $2864.59/year, fire/sewer. The actual property tax is $7371.38. Call now for a private tour!
Source: STELLAR #GC531465
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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.