5490 SE Highway 42 Summerfield, FL 34491
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About this home
PRICE IMPROVEMENT! IT'S TIME TO TREAT YOURSELF TO COUNTRY LIVING AT IT'S FINEST! Welcome to this stunning 3-bedroom, 2-bathroom ranch-style pool home sitting on 3.01 acres including a detached In-Law Suite, guest quarters, or pool house. The property is fully fenced and cross-fenced for pastures, making it ready for your horses or livestock and zoned A-1. Inside, you'll find luxury vinyl plank flooring and ceramic tile throughout, granite countertops and window sills in the kitchen and bathrooms, and a cozy wood-burning fireplace to keep the home warm on cooler evenings. The main house is nestled among beautiful grand oak trees, located in a quiet, private neighborhood with only about 12 property owners. Conveniently situated between The Villages and Ocala shopping, entertainment, doctors, and more are just a short drive away. This desirable home offers a spacious screened porch and a saltwater, solar-heated pool, providing a perfect spot for gathering on hot Florida days. The large custom kitchen cabinetry, doors, and fine touches showcase the craftsmanship of this stunning 2,252 square foot home. If you're looking for a place to relax and unwind, the large covered patio is filled with natural light, offering serene views and the peace and tranquility this property boasts. Recent updates include a roof replacement (2018), A/C replacement (9/2019), water heater in the main house (2022) and in the guest house (2019), updated appliances, pool pump (3/2024), well pump (10/2024), and an electric gate opener (6/2024). Additional safety features include Blink cameras at all doors and the workshop, automatic bathroom lighting, and a generator transfer switch to keep you prepared for any occasion. There is also a large workshop/garage, 2 sheds, and a carport for plenty of storage space. Enjoy making memories around the firepit with family and friends on this beautiful, serene, and tranquil mini-farm. Schedule a visit today and explore the endless possibilities this home has to offer!
Source: STELLAR #OM695781
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FAQs
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.
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.
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.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.