Imagine coming home to your easy entrance circular driveway and enjoying a warmly appointed home in Menifee's most affordable Senior Community. With one of the most spacious Del Webb layouts and its warm updates, it's a gem in this community! Wood vinyl plank flooring throughout adds beauty and durability. The heart of this home is a cozy, thoughtfully updated kitchen, complete with a pantry and a custom built in family table waiting for new traditions. Or if you prefer, spice up meals with a formal area for a lingering dinner. There are a total of 3 bedrooms, one that could be used for extended guests with a separate entrance from garage or backyard. The spacious and tastefully updated primary suite touts an extended mirrored closet, tasteful wainscoting and lovely crown molding. Located off the back end of home it also offers direct private access to the pool backyard, perfect for those early morning coffees. The other large bedroom even has a walk-in closet. The 2 interior bathrooms have been nicely updated. Enjoy the relaxing view thru the large living room sliding glass door to the sparkling pool (with a newer pool pump) and patio area with storage amenities. There is a separate, dedicated laundry room. Front and back yards have easily maintainable water friendly landscape. Most of the costly upgrades are completed for easy move in, including a newer HVAC system! With plenty of parking in the attached garage and circular driveway, this home is easily accommodating for family and friends to visit and enjoy your lifestyle. This home has been lovingly taken care of and is eagerly waiting for you to enjoy its custom, warm vibe! The "Sun City" community was the beginning of the surrounding Menifee area and offers one of the most affordable, conveniently located city-within-a-city senior community around! And with all your needed conveniences close and accessible, it's a win win!
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.
