UNIVERSITY CITY-SYCAMORE CANYON – Welcome to 11610 Cornell Avenue, a distinctive Spanish-style home offering approximately 2,889 square feet of living space on an expansive 13,504-square-foot lot. With four bedrooms, four bathrooms, and a flexible floor plan, this property offers the perfect blend of character, comfort, and functionality. As you approach the home, you're welcomed by an automatic gate and a paver driveway that creates a warm, private entrance. Mature avocado and orange trees line the drive, adding charm and a touch of California living. Inside, you'll find spacious living and family rooms, each featuring its own fireplace and abundant natural light. The generously sized kitchen is equipped with stainless steel appliances, ample counter space, and plenty of storage, making it ideal for preparing meals and gathering with family and friends. Three bedrooms are conveniently located on the main level, including two with en-suite bathrooms, providing comfortable accommodations for family and guests. Privately situated upstairs, the fourth bedroom serves as a true retreat. Complete with its own bathroom and connected to an expansive bonus room with vaulted A-frame ceilings, this space opens directly to a wraparound balcony and offers endless possibilities. Use it as a luxurious primary suite, private guest quarters, home office, media room, or multigenerational living space. A unique rooftop balcony creates an unexpected bonus space complete with a built-in countertop and sink. Whether you're enjoying your morning coffee, setting up a beverage station while entertaining, or unwinding at the end of the day, it's the perfect spot to take in mountain views and sparkling city lights. Step outside and enjoy your backyard oasis. The private pool and spa, covered patio, greenhouse, and oversized yard create the perfect setting for entertaining, gardening, or simply relaxing. Conveniently located near UC Riverside, Canyon Crest Towne Centre, Sycamore Canyon Wilderness Park, shopping, dining, and freeway access, this home combines timeless Spanish character with modern updates in a highly accessible Riverside location. From the versatile floor plan to the rooftop views, 11610 Cornell Avenue is a home filled with character, flexibility, and spaces you'll enjoy for years to come.
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.
Yes. Non-veterans can assume a VA loan, provided they meet the lender’s VA criteria. When a qualified buyer assumes a VA mortgage from a veteran or active-duty service member, the seller’s VA loan entitlement remains tied to the assumed loan until the buyer pays off or refinances the loan. This process restores the veteran seller’s entitlement, enabling them to use their VA benefit for a future home purchase.
Yes. All FHA loans are assumable by law as long as the buyer meets the FHA’s credit, income, and qualification requirements and obtain lender approval before assuming the loan (per FHA regulations effected December 15, 1989). Roam makes this process simple for buyers.
Generally, conventional loans are not assumable. In rare cases, a conventional loan may be assumable with lender approval. Use our search tool to find homes with assumable low-rate loans, or reach out to us if you’d like to confirm a specific home’s assumability.
