10890 SE 160TH COURT RD, Ocklawaha, FL 32179
Motivated Seller! 100% Financing available through our preferred lender!! SUNSET Seekers! Immerse yourself in the ultimate lakeside lifestyle in Ocklawaha, FL, where every evening offers a breathtaking SUNSET Spectacle! Nestled on 3 acres of pristine land, this home presents a serene sanctuary on the shores of the secluded and spring-fed Lake Fay. Crafted in 2002, this meticulously maintained property enjoys an enviable location just a brief 10-minute drive from The Villages, FL, granting easy access to shopping, dining, hospitals, and more. Despite its convenient proximity to amenities, revel in the sensation of being worlds away as you unwind in the tranquil ambiance of your lakeside haven. Step indoors to unveil a generously appointed layout bathed in natural light, showcasing inviting living spaces and panoramic lake views from every vantage point. The pièce de résistance of this abode is the expansive sun deck, offering an ideal spot to absorb the mesmerizing scenery and savor leisurely moments by the water's edge. Outside, the property is thoughtfully tailored for outdoor enjoyment, featuring a fenced-in yard, security system, and invisible fence for added security and peace of mind. Plus, envision the possibility of having horses on your property, embracing the essence of country living to its fullest. With the private lake just steps from your door, indulge in a plethora of recreational activities including boating, water skiing, kayaking, and more. Seize the opportunity to own this exquisite lakeside retreat in Ocklawaha, FL, where each day promises unparalleled serenity and natural beauty. Schedule your viewing today and embark on the waterfront lifestyle you've always envisioned!
You may be able to put down less than the total down payment amount of $225,870 and have the rest of the funds financed with a 2nd mortgage from a lender. 4
Location
Details
How it works
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Tour
Whether you have an agent or you’re just starting your search, reach out to us and we’ll help set up a home tour.
Offer
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Close
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
Who can qualify
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.
Frequently asked questions
What is Roam?
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.
What is an assumable mortgage?
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.
Why is an assumable mortgage valuable?
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.
Will an assumption work for me?
An assumption might be a suitable option for you if you meet the lender’s qualifications. We also offer Roam Boost to help buyers reduce the down payment required to a minimum of 5-15%. See below for more FAQs specific to Roam Boost.
Why do buyers use Roam?
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Roam helps home buyers find and purchase homes with a low-rate assumable mortgage included. Once you find your dream home, Roam manages the process of assuming a low-interest rate mortgage, helping buyers save thousands a year on mortgage payments compared to buying with a traditional mortgage at today’s rates. On average, buyers who use Roam save $15,000 in mortgage payments annually.
MLS ID: #om677895