Experience the allure of Southern California living in this exquisite pool house, perfectly nestled on a tranquil cul-de-sac in a beautiful South Corona neighborhood. Boasting an expansive premium lot of over 10,000 square feet, this single-story gem offers a harmonious blend of charm and potential. As you enter, you'll be greeted by an inviting open-concept kitchen designed for both functionality and style, featuring ample counter space, perfect for culinary creations and family breakfasts. The kitchen flows effortlessly into a bright family room, adorned with plenty of windows that flood the space with natural light, creating a warm and welcoming atmosphere ideal for both relaxation and entertaining. Formal Livingroom with fireplace for those cold cozy nights. The generously sized primary bedroom offers a peaceful retreat, complemented by a well-appointed en-suite bath. While the home may need some updating, it is in excellent condition, allowing you to infuse your personal style and vision into this captivating canvas. Imagine creating your dream outdoor oasis, with plenty of space for a lush garden, poolside lounging, and entertaining guests under the California sun. Pool replastered for a fresh new finish, and New vinyl side yard fencing and exterior paint within the last 5 years. This home is in very close proximity to the award-winning Santiago High School. Plenty of shopping and dining options are available nearby, and it's a perfect commuter-friendly location. Don't miss this incredible opportunity to own a slice of paradise in South Corona—where modern convenience meets timeless charm!
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.
