Welcome to this beautifully updated and uniquely versatile, one-story residence built in 2006 and nestled in the friendly / established Marion Oaks community of Ocala! A home which offers a rare combination of comfort, functionality, and multi-generational living options: with approximately 1,212 sq ft of living space, this charming 3-bedroom, 2-bath gem with an attached garage converted into a full in-law suite, features a bright and open floor plan—highlighted by light filled rooms and plenty of opportunity for personalization—perfect for both, everyday living and entertaining. The living and dining areas flow seamlessly into a bright and spacious kitchen featuring clean lines, practical finishes and a breakfast nook/eat-in area, which makes it ideal for casual meals or gathering with friends and family. The primary suite is tucked away for privacy and offers its own full bath, providing a retreat-style feel. The additional two bedrooms are well-sized and share the second full bath—perfect for family, guests or a home office setup. Flooring is easy to maintain as is all ceramic tile throughout. A laundry area and ample storage complete the interior offering, while the central A/C plus electric forced-air heating ensure year-round comfort. AC was replaced in 2019, the roof was replaced in 2024, Septic in 2022. A standout feature of this property is the well-designed in-law suite, accessed through the converted attached garage. This space provides a private entrance, living/sleeping area, kitchenette and its own bathroom/laundry setup—perfect for extended family and visiting guests and/or income producing "apartment" . The attached links show the main house in one and in the other one the apartment. The layout offers privacy while remaining connected to the main home for convenience. Set on a generous lot (about 0.26 acres), the backyard offers ample space for outdoor living: think a pool, play area, or simply a lush green garden. A tremendous detached shed/workshop sits toward the rear of the property—ideal for storage, hobbies, a small business workspace, or future conversion possibilities. On the other end, mature landscaping and a welcoming front façade enhance curb appeal—yielding a warm and friendly first impression, alongside the paved extended driveway which provides convenience and parking ease. Located in a quiet area of Marion Oaks, the home enjoys a tranquil residential feel with community-like ambiance as well as offering proximity to local amenities with easy reach to shopping, dining and schools. While the accessible location near Hwy 484 and other major roadways make this home a smart choice for families or investors alike. With a flexible floor plan, a true in-law suite, and a massive detached backyard structure, this home stands out from others in the area. Don’t miss this excellent move-in ready opportunity waiting for your personal touches!
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.
