9785 SW 40th Ter, Ocala, FL 34476
3 beds · 2 baths · 2,024 sqft
Get a free consultation call with an expert in the mortgage assumption process.
Welcome to your dream home situated on a spacious .62 acres in a prime corner lot location in the desirable southwest area of Ocala! This property combines comfort, functionality, and outdoor living, making it perfect for families, hobbyists, and anyone who loves to entertain. Step inside to discover an inviting layout that includes an additional office room, ideal for those who work from home or need a quiet space for study. The cozy breakfast nook offers a charming spot for morning coffee and casual meals, while the spacious living areas provide plenty of room for gatherings. The exterior of the home is just as impressive. You’ll love the huge 264 sq ft workshop with electricity, perfect for all your projects and hobbies. The full yard smart irrigation system with 54 sprinkler heads ensures your lawn looks lush and green with minimal effort. For pet lovers, the fenced-in dog run/yard is a safe haven for your furry companions. Enjoy evenings around the firepit or cultivate your green thumb in the fully irrigated fenced garden area. The woodshed provides ample storage for your gardening tools and outdoor supplies. If you enjoy camping or have an RV, the 50 amp hookups with high-speed Ethernet internet and water are a fantastic feature. The smart home security system, complete with two outdoor cameras and a doorbell camera, offers peace of mind for you and your family. Outdoor enthusiasts will appreciate the abundant electrical outlets and water spigots throughout the property, making it easy to host gatherings or tackle landscaping projects. The huge fully enclosed lanai, boasting an additional gas stovetop and AC unit, is perfect for year-round entertaining or relaxing. Fruit-bearing apple trees add a delightful touch to your outdoor space, and the additional screened-in side patio creates the perfect grilling area while staying sheltered from the rain. Plus, with a new roof coming soon, you can move in with confidence. Don't miss the opportunity to make this exceptional property your own. With its prime location and numerous amenities, it truly has it all!
Source: STELLAR #OM697813
Learn about how it works
Why Roam
Gap financing to lower your down payment
Unlock down payments as low as 5% – only with Roam
5x the likelihood your offer is accepted
If a purchase takes longer than 45 days, we’ll cover the seller’s mortgage until you close
Close faster and stress-free
We close 2x faster because of our deep experience and lender relationships
Rates and payments are estimates based on public records.
Source: Public records
All values shown are estimated costs / mo.
Source: Public records
Source: STELLAR #OM697813
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 of Equal Opportunity Act.