Amazing pool home located in one of Ocala’s Premier 55+ communities “Oak Run” which is known for having a convenient SW Ocala location, plenty of activities and clubs to join and meet new friends and neighbors along with an 18 hole golf course, restaurant and yes, you can have a golf cart. Folks this home has been updated with a New Roof 2021, AC Repl in 2014 with recently having a new motor and condenser replaced. You will be saving $$ on your electric bills for the owner recently installed 8 New Energy Saving WINDOWS. The interior of the home is spacious and comfortable featuring a totally remodeled kitchen with new custom cabinets, new granite counter tops and new SS appliances with attractive tiled floors. There is plenty of storage along with access door to the spacious birdcage outside which will welcome you every morning for your special coffee time and cook out those steaks in the evening while entertaining family and friend's pool side. Life will be wonderful having your own 12x24 HEATED POOL with Robotic Pool Cleaner the heater new in 2023. The primary bedroom has laminate floors, plantation shutters, walk in closet and a remodeled private bath with glass enclosed shower and granite counter tops. There is a guest bedroom and guest bath close in proximity to one another featuring enclosed tiled shower with bench seat and granite counter tops. Additional features include the Garage and Florida rooms that are under heat and air. At present the garage vents are closed. The LR has a solar tube. The pool surface and decking were all updated/resurfaced and most recently owner applied new paint stain to the decking along with a new filter installed for the heater pump. A New Electrical Panel installed in 2023 w/200 amp. Service. You really need to come take a look to appreciate all this property has to offer and a lifestyle you’re searching for.
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.
