Looking for a Simi Valley home for sale in a gated community with no shared walls and move-in ready upgrades? This corner unit in the desirable Briarwood community in East Simi Valley offers privacy, space, and a layout buyers are actively searching for. This 3 bedroom, 2.5 bathroom home with approximately 1,934 square feet, built in 2001, features an open-concept floor plan with rich wood flooring throughout the main level and abundant natural light thanks to its corner location. The formal living room flows into the dining area with direct access to the private backyard, creating a seamless indoor-outdoor experience. The kitchen is designed for both function and style with granite countertops, built-in appliances, ample cabinetry, and a raised breakfast bar that opens to the family room. A modern pendant lighting fixture adds a clean, updated touch, while the adjacent family room features a cozy fireplace and built-in cabinetry. Upstairs, new flooring and fresh paint enhance the space. The primary suite offers dual sinks, a soaking tub, separate shower, and a walk-in closet. Two additional bedrooms provide flexibility for guests, home office, or everyday living. The hallway bathroom includes a dual-sink vanity, and the upstairs laundry room adds everyday convenience. Additional features include a downstairs powder room with updated vanity and flooring, pantry, attached two-car garage, and extra storage. Located in the gated Briarwood community in East Simi Valley, residents enjoy access to a private pool and spa, along with a well-maintained neighborhood setting. Close to hiking trails, parks, and outdoor recreation, and conveniently located near the 118 freeway, offering easy access for commuting. Low HOA. If you’re searching for a move-in ready home in Simi Valley, gated community homes in Simi Valley, or a private corner unit with no shared walls, this is one you won’t want to miss.
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.
