7722 SW 117TH STREET RD, Ocala, FL 34476
UNIQUE CUSTOM HOME - You are greeted with an awesome front porch that just begs you to come sit and visit with your friends and neighbors. Once inside you will find a Large Living Room with cathedral ceilings, Large Dining Room, Huge Master Bedroom with Updated on suite bathroom with vessel sink and step in shower, walk in closet and built in closet. The kitchen has a pass thru to the dining room and boasts stainless steel appliances, tons of counter space and cabinetry and a breakfast area overlooking the beautiful serene backyard. Off of the kitchen is not only an enclosed lanai, there is a screened lanai off of that for your golf cart or yard supplies. The second bedroom is a good size as well. 14 x 12, which is unusual for a guest room. But wait, there is a 3rd bedroom off of the kitchen and that's what makes this house so unique - it's perfect for an office or a craft room and is 10 x 13, so there's plenty of space for guests as well. There is a storage area opposite the kitchen with an extra fridge too. The garage is massive and has an abundance of shelving and storage and pulley lift that comes down so you can load your boxes without climbing the stairs to get them up there - genius! So a beautiful yard, plenty of space in all the rooms, a big garage, Roof 2009, AC 2012, laminate floors except for bedrooms, lots of closet space - wow! Community has lots to do as well with a restaurant, 6 pools, 5 hot tubs, golf course, tennis, pickleball, library, billiards room, card room, craft room, shuffleboard and over 100 clubs. Shopping, medical facilities and restaurants right outside the gate. So what are you waiting for - this is a great house in a great community - Oak Run Country Club!
You may be able to put down less than the total down payment amount of $103,285 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: #om685385