A great opportunity to own a well-appointed 2022 home in a quiet Menifee neighborhood with some great upgrades and ready for its next chapter. The spacious two-story layout offers 5 bedrooms and 3 bathrooms, with an open living area filled with natural light and stylish LVP flooring throughout the main level. Just off the entry is a versatile office that can easily become a sixth bedroom by adding a door. Throughout the home, you’ll find thoughtful built-ins and shelving that work well for books, décor, or an entertainment setup, along with plantation shutters throughout for a clean, classic look. The kitchen is well appointed with ample storage, a walk-in pantry, quartz countertops, stainless steel appliances, and soft-close cabinetry. Downstairs includes one bedroom and a full bathroom, making it ideal for guests or multigenerational living. Upstairs, carpet adds warmth and comfort to four additional bedrooms, a generous loft perfect for a game room, playroom, or second living space, and a relaxing primary suite with plenty of room to unwind. The primary bathroom features a 5-piece layout, and the suite also boasts an impressive wrap-around walk-in closet with exceptional space, functionality, and windows that bring in natural light. The home also includes solar to help keep energy bills low year-round. The backyard sits on a pool-sized lot with no rear neighbors, offering added privacy and endless potential, whether you envision a future pool, an outdoor entertaining area, or simply room to roam. Current low-maintenance artificial turf makes it move-in ready while you plan your dream backyard. The attached 3-car garage provides ample room for vehicles, storage, or a workshop. There is no HOA, giving you the freedom to enjoy your home without added fees or restrictions. Conveniently located near freeways, parks, schools, and everyday amenities, and just approximately 16 miles from Temecula Wine Country, making weekend wine tasting an easy escape, this home offers a comfortable lifestyle in a friendly community.
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.
