1461 SW 161st St, Ocala, FL 34473
3 beds · 2 baths · 2,211 sqft
Get a free consultation call with an expert in the mortgage assumption process.
Under contract-accepting backup offers. One or more photo(s) has been virtually staged. Nestled in a peaceful cul-de-sac within the highly sought-after SummerGlen 55+ community, this Modified Crestview model offers the perfect blend of comfort, style, and convenience. Boasting 2,211 sq ft of living space, this home features 3 spacious bedrooms and 2 full bathrooms—ideal for relaxation and entertaining. Upon entering, you’ll be greeted by an inviting foyer with updated luxury vinyl plank flooring and high ceilings, setting the tone for the rest of the home. Notable fixtures include stunning Tiffany-style retractable blade ceiling fans, adding a touch of elegance throughout, with a custom Tiffany-style fan in the master bedroom. The master suite has been beautifully updated with new flooring and a luxury master bath, along with custom built-in closet organizers for ample storage. The heart of the home is its expansive open living areas, and an inviting kitchen with granite counter tops and updated appliances. In the laundry room, you'll appreciate the built-in storage for dry goods and laundry organizer, designed for optimal organization. Step into the private, enclosed lanai with a newer mini-split system, capable of cooling the entire house on its own—perfect for Florida’s warm days. The attached 3 car garage provides ample space for your vehicles, and the dedicated golf-cart parking adds a touch of convenience for those who love to cruise around the community. The paver driveway and custom landscaping enhance the home’s curb appeal, and the natural gas outlet on the back patio makes outdoor grilling a breeze. Additional features include plantation shutters throughout, a recently updated gas water heater, and a newer water softener. The HOA takes care of mowing and edging, garbage/recycling pickup, internet, cable, and access to all community amenities. Amenities include pool, spa, fitness center, RSO building, Grand Hall, Shuffleboard, Tennis & Pickleball Courts, Softball field and more. For added convenience, the golf cart, washer/dryer, and remaining furniture in the home are negotiable. Don’t miss this opportunity to own a beautifully updated home in one of the most desirable 55+ communities. Schedule your private tour today!
Source: STELLAR #OM698540
All values shown are estimated costs / mo.
Source: Public records
Source: STELLAR #OM698540
To qualify, you must meet the current FHA or VA 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%. 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.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
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.
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.
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 620, 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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.