Nestled within the equestrian neighborhood of Meadow Wood Farms, this well-equipped mini-farm provides a comfortable lifestyle within Ocala’s vibrant Horse Country. Fenced and gated on a large 3.70 acre lot, the farm is nicely private with plenty of shade from mature trees. The 3-bedroom, 2-bath pool home offers 1,875 square feet of living space with vaulted ceilings, good natural light, and ceramic tile and luxury vinyl flooring throughout. The main living area provides space for both living and dining, making it easy to accommodate everyday living or gatherings. The kitchen includes ample cabinet and counter space, a pass-through window to the living area, and a breakfast nook with a bay window. Both bathrooms have been tastefully updated with new vanities, mirrors, and fixtures. The primary suite features a large walk-in closet and a private bath with dual sinks and a walk-in shower. At the back of the home is a flex room overlooking the pool, which could work well as a second living area, office, or hobby space. Outside, the screen-enclosed pool area includes an in-ground pool, spacious pool deck, and a covered seating area with ceiling fans and a TV mount, with views of the surrounding farm. Additional features include a 2-car attached garage and a laundry room with utility sink and storage.Designed with horses in mind, the farm features a 3-stall block shed-row style barn, complete with tack room and wash rack. Three paddocks are in place with board fencing and no-climb, allowing for plenty of space for turnout and training. Located just a short drive from HITS and less than 10 minutes to WEC, this property is an ideal option to take advantage of Ocala’s diverse and well-supported network of equine retailers, service providers, veterinary care, and show/competition venues. If you’ve been searching for a manageable farm with plenty of flexibility, look no further!
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.
