51 Pine Trace Loop, Ocala, FL 34472
3 beds · 2 baths · 1,480 sqft
Nestled in the charming city of Ocala, this stunning, newly-listed home offers an impeccable blend of modern amenities and superb location. This corner-lot house boasts a sprawling 1,480 square feet of beautifully renovated space including three spacious bedrooms, with the serene primary bedroom offering a secluded retreat, and two full bathrooms. Step inside to discover a breezy open floor plan that seamlessly connects the living areas, perfect for entertaining and everyday living. The heart of the home features a sleek kitchen equipped with brand-new stainless steel appliances, sure to inspire your inner chef. Additional recent upgrades include a new air conditioning system, a pristine new roof, and energy-efficient solar panels owned free and clear, eliminating the power bill and reducing property taxes, all designed to enhance comfort and sustainability. A two-car garage provides ample storage and vehicle security, accommodating your needs with ease. The property's prime location places it a mere two miles from the bustling Heather Island Plaza, where shopping necessities at the Publix Super Market await you. Education is conveniently addressed with Forest High School just under two miles away, making morning commutes a breeze for families. This home is not just a place to live but a haven of convenience, situated close to both schools and shopping areas. Prepare to be captivated by both the elegance and practicality of this exquisite Ocala residence, ready to create lasting memories for its new owners.
Source: STELLAR #OM697812
Financials
Source: Public records
Source: STELLAR #OM697812
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.
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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.