Beautiful and Serene Guard Gated Community of Terramor. Some amenities include multiple parks, association pool, bbq, firepit, club house, dog parks, and miles of walking trails. This home boasts a beautiful unobstructed mountain and hills view. As you pull up to the property, you notice the well kept landscaping and quiet cul de sac location. Walking into the home you are greeted with neutral colors and a bright entry that leads into the spacious family room with fireplace. The accordion type slider brings in natural light and shows the gem of the property, the view. The backyard has low maintenance turf and drought tolerant landscaping. There is also a custom dog run and fenced off area if you have a dog or two. Back inside the home you notice a well appointed kitchen with gorgeous countertops and back splash. There is an office with a custom barn door that can easily be used as a fourth bedroom. Going up the stairs you see a spacious loft. Great for movie nights or a nice additional space to hang out or turn into a work out area; the possibilities are endless. On this level there are three bedrooms. Two can be used for family or guests. The primary is large enough for your bedroom set and a seating area. A great place to wind down from the day or take time to read a nice book. Looking out the windows you are able to take in the beautiful view. The primary on-suite has separate sinks, separate tub and shower and upgrades throughout. Feels like a nice spa to wash the day away. There is a walk in closet off the on-suite to fill with what ever you heart desires. On the second level is a laundry room for convenience and a hall bath with dual sinks and shower/tub combination. The property has a two car garage with epoxy flooring and ample space for storage. There is custom wifi controls for lighting and audio and a security system that may be included. Freeway close to Temecula "Wine Country," the beach, mountains or desert. Come take a look at this one. You will fall in love.
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.
