11094 SW 75TH AVE, Ocala, FL 34476
Come and Enjoy all that Ocala and Palm Cay have to provide This spacious and peaceful home is situated near the back of this 55+ community allowing for peace and quiet. Be greeted by the lovely front porch and the beautiful Palm Tree. This home would be a great primary residence or a wonderful seasonal home. This home can come with or without furniture making it truly move in ready! Both bedrooms are roomy enough to “live in”. Additionally, there is a rear living room providing additional space which is atypical to most homes in Palm Cay. This living space could be used for a home office or for extended family to stretch out. This home has been well cared for throughout. Upgrades include; A new motor (2018) for the Trane AC, A whole house HEPA filter system, and a newer roof (2015). A new water heater and new septic tank will be installed prior to closing. Many of the home lights are LED lights. The owner is leaving most of the tools, the lawn mower, the carpet shampooer and the robo vacuum, as well as the washer and dryer. If you are looking to escape the Northern snow, this home is truly move in ready, so pack your bags and head on down today!! Palm Cay offers a beautiful community center with many activities and a pool. It is minutes from SR 200 with shopping, restaurants and doctors all readily available.The HOA fee is very low and you can enjoy the peace of living close to town without all the chaos. Come and see for yourself.
You may be able to put down less than the total down payment amount of $86,608 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: #om685345