REDUCED! Check out this beautiful and spacious single story gem located in Menifee's most desirable master planned community...Audie Murphy Ranch. Located on a quiet cul-de-sac, you'll enter your new home via a covered front patio into a lovely large foyer entry. Inside you'll be taken in by the extra high ceilings, gorgeous luxury laminate plank flooring, upgraded millwork and contemporary fixtures throughout. To the right of the foyer you'll find a hallway leading to the 3 secondary bedrooms, that are spacious and offer plenty of room for all your people, or stuff. To the left of the entry is a 4th mini-primary suite with its own private en-suite bathroom. An additional large bathroom is located in the hall. Continue through the entry you'll enter the massive kitchen/great room/dining area which is the showcase of the large, open concept, floor plan. The gourmet kitchen features lovely white cabinetry, slab granite countertops, loads and loads of counter space and storage along with high quality stainless steel appliances. The kitchen opens up into the rest of this wide open space with custom accent wall in the dining area and is ideal for entertaining with plenty of room for your furniture. Adjacent to the great room you'll find access to the master suite which features an attached en-suite bathroom with large shower, tub and loads of closet space. The current owner installed a large concrete patio area in a backyard wrapped in high-end vinyl fencing. Audie Murphy Ranch offer pools, spa, sports courts, hiking and biking trails, club house, meeting and banquet rooms, skate park, tennis, bocce ball and basketball. The community is home to the award winning Taawila Elementary School. Located just minutes from Temecula Wine Country, the desert, mountain resorts and only one hour to LA and San Diego, this community is located right in the heart of Southern California. Hurry, you'll not want to miss this opportunity!
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.
