11235 SW 131st Ter, Dunnellon, FL 34432
3 beds · 2 baths · 2,492 sqft sqft
Hard to find 8 acre farm The best of both worlds quiet country setting perfect for your farm yet minutes to Rainbow River, Ocala, Hospitals, shopping and so much more. Unique country home with wrap around screened porch perfect for relaxing with that morning cup of coffee or watching the sunset. Quality construction shows throughout this Concrete slab foundation and frame house with Cypress wood exterior. Huge great room provides space for large tv and movie night. Formal dining room with fireplace open to the kitchen with upgraded cabinets plenty of counter and cabinet space perfect for trying out new recipes. Generous sized bedrooms , Primary bedroom features a huge Walk in closet. 2600 sq ft huge building can be used as a workshop, garage or possibly even made into a second home. High ceilings with room for an RV, concrete floors for easy clean up, separate room divided that could be an office+- 2nd building is perfect for a barn. Large oak trees offer a peaceful private setting yet nearly everything you want minutes away 8 acres fenced. No HOA. Two 3.5 ton heat a/c units. New hot water heater, Solar panels make this home economical Out building with electric. Lean to on one side for lawn equipment and dog kennel and chicken coop on the other side. Industrial well pump. Accessible water all throughout property with over a dozen faucets
Source: STELLAR #om689022
Interest rate and monthly payment estimated based on public records.
Source: STELLAR #om689022
Source: Public records
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
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.
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
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.
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.
How can you find assumable mortgage listings?
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 “Get Notified” 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.
How do I qualify for an assumable mortgage?
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.
MLS ID: #om689022
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.