4524 SW 162nd Terrace is where country roads and opportunity collide! Some of these photos have been virtually staged. Welcome to your own slice of Ocala living on 5 beautiful acres! This 2008 double-wide manufactured home offers 3 bedrooms, 2 bathrooms, and 1,248 living square feet with plenty of room to spread out, invest, or create the peaceful lifestyle you’ve been looking for. Whether you’re searching for your first home with land, a rental investment to add to your portfolio, or a private getaway surrounded by nature, this property checks all the boxes. Inside, the kitchen has been beautifully staged to showcase its bright, modern feel featuring white cabinetry, updated finishes, stainless steel appliances, and an open layout perfect for entertaining or everyday living. The home also features ducted central HVAC, vinyl siding, a gable roof, and functional living spaces ready for your personal touch. Outside is where the real potential begins. The 5-acre parcel provides endless possibilities for animals, equipment, recreational toys, gardening, additional structures, or future improvements. Existing outbuildings and covered areas add extra flexibility for storage, workshop space, hobbies, or income-producing opportunities. Located in Ocala — known as the “Horse Capital of the World” — this property is approximately 25-30 minutes from the renowned World Equestrian Center, making it a great opportunity for equestrian enthusiasts, seasonal visitors, short-term rental potential, or investors looking to capitalize on the area’s continued growth and demand. Enjoy the privacy of country living while still being conveniently located near shopping, dining, outdoor recreation, and major roadways. Opportunities like this with acreage, flexibility, and investment potential don’t come around often!
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.
