Welcome to the most competitively priced and impressive two-story home situated in the coveted family friendly Montecito Ranch community in South Corona. This Prime and Pristine Property features 5 spacious bedrooms and 3 bathrooms, offering a generous 2,665 square feet of living space on an expansive 9,148 square foot lot--this is the perfect home for a growing family.Upon entering this beautifully renovated home, you'll be welcomed by a bright and airy living room with recessed lighting, ideal for entertaining guests or unwinding with your loved ones. Adjacent to this is the dining room and family room, which provide additional spaces for friends and family hangs. The heart of the home is no doubt the chef-inspired kitchen, equipped with modern appliances, plenty of storage, and a GIANT island perfect for quick meals during busy mornings.The primary bedroom is peaceful to the max, and features a spacious walk-in closet and an en-suite bathroom complete with a soaking tub and a separate shower. The additional bedrooms are sized just right, ensuring comfort for all family members. A convenient main floor bedroom and bathroom offer flexibility for use as a home office or private guest suite, while the laundry room streamlines your daily tasks.The 3-car garage provides ample storage and parking space. One of the standout features of this property is the covered patio, perfect for hosting summer barbecues or enjoying your morning coffee. The stamped concrete enhances the outdoor area, creating a low-maintenance space ready for your personal touch.Ideally situated, this home is surrounded by a ton of amenities and attractions. Within a short distance, you'll find top-rated schools such as Franklin Elementary and Centennial High School. Nature enthusiasts will appreciate nearby parks like The Crossings at Corona, which offers scenic walking trails and picnic spots. Don't wait, Call for your private showing today!
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.
