16638 N Highway 329, Reddick, FL 32686
6 beds · 6 baths · 6,858 sqft
Pool Home with Guest House and Barn! (6 bedrooms/6 Bathrooms Total on property) ASSUMABLE 2.25 interest rate on $800k of the loan for qualified buyers! AND $45k credit for New Roof! This Property has SO MUCH to offer 1) Main Home is a 3 bed/3 bath - First floor has laundry room, kitchen, dining room/office, living room with gas fireplace, full bath leading to pool, bedroom with french doors leading to pool, master bedroom with french doors leading to pool and a huge master bath. Second floor is a large suit with bedroom, full bath and separate area. The home has high ceilings, skylights and lots of windows making it bright with natural lighting. The kitchen features gorgeous wood cabinetry, granite counters, and stainless appliances. The in-ground saltwater pool is heated and fully screened. 2) Detached 2 car garage. 3)Separate completely renovated guest house with 2 bed/2bath and 2 kitchens that can be closed off with pocket doors to make 2 separate living areas for guests, in-laws or air bnb/rental. 4) Barn with a hay loft and studio apartment just needs a bit of some finishing touches - would be very easy to construct 4 stalls with a center isle custom to your needs! 5) Large chicken coop. 6)Your own private tennis/pickle ball/basketball court. Both the main home and the guest house have separate a/c units for the two floors. All of this down a gated, paved drive on 12 acres of beautiful fenced and cross fenced lush pasture land with mature fruit bearing pecan, orange, lemon, and banana trees. Conveniently located just outside of Ocala, horse capital of the world, and just a short 20 min drive to anywhere you could possible want to go -The World Equestrian Center, H.I.T.S (Horses Under The Sun show grounds), Down Town Ocala, and Gainesville for city life of Gator games, Shopping and fine dining!
Source: STELLAR #om688253
Interest rate and monthly payment estimated based on public records.
Source: STELLAR #om688253
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: #om688253
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.