Stunning 7 bedroom Murrieta Pool Home! Nestled within the exclusive gated enclave of Old School House in Murrieta, this exceptional residence offers a rare blend of elegance and space. Set along picturesque tree-lined streets with generous guest parking, the home encompasses approximately 4,666 square feet of thoughtfully designed living space on a 7,405-square-foot lot. Designed for both grand entertaining and comfortable everyday living, the residence features seven spacious bedrooms and four-and-a-half bathrooms, with tile & luxury vinyl flooring flowing throughout the home. Freshly painted interiors, warm recessed lighting, and an inviting neutral palette create a sophisticated yet welcoming atmosphere. At the heart of the home, the expansive chef’s kitchen showcases granite countertops and opens seamlessly to an oversized family room, creating the perfect setting for gatherings large and small. A highly desirable main-level bedroom wing includes two bedrooms and a full bathroom, ideal for multi-generational living, long-term guests, or private accommodations. Each bedroom has been generously sized, offering flexibility for sitting areas, study spaces, or personal retreats. The luxurious primary suite serves as a private sanctuary, complete with a spacious walk-in closet, dual vanities, a soaking tub, separate shower, elegant crown molding, and captivating valley vistas that provide a stunning backdrop to everyday living. The upper level offers an impressive bonus space, perfect as a game room, media lounge, fitness studio, or children's retreat, providing endless possibilities to suit your lifestyle. Step outside to your own private resort-inspired backyard, where a sparkling pool and spa invite relaxation and recreation. The outdoor space offers ample room for entertaining, dining, and enjoying Southern California's year-round sunshine. Ideally located just minutes from renowned wineries, the Murrieta Hot Springs Resort, convenient freeway access, and the highly acclaimed Vista Murrieta High School, this remarkable property presents an exceptional opportunity to enjoy luxury living in one of Murrieta's most sought-after gated communities.
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.
