Welcome to your dream home in Menifee's sought-after Tierra Shores community! This isn't just a house; it's a lifestyle waiting for you. This stunning home offers an incredible 5 bedrooms and 4 bathrooms, including a perfectly situated downstairs bedroom with its own full en-suite. This is the ultimate setup for welcoming guests or providing a private retreat for multi-generational living. Step inside and feel the spaciousness of the open floor plan. The heart of the home is the spectacular kitchen, designed for both everyday living and entertaining. Imagine gathering around the large center island with a sit-down breakfast bar, surrounded by sleek granite countertops and modern black appliances. The kitchen flows effortlessly into the family room, where a cozy fireplace invites you to relax and unwind. A separate laundry room with a sink is also conveniently located on the main floor, making chores a breeze. Upstairs, the luxury continues with three more generous bedrooms and an incredible primary suite. The primary suite is your personal sanctuary, complete with a huge walk-in closet and a spa-like bathroom featuring dual high sinks and a separate soaking tub and shower. Every bedroom is cozy and ready for you to move in, complete with plush carpeting and window coverings. The backyard is an absolute private paradise! With no homes directly behind you, you can enjoy ultimate tranquility. The beautifully landscaped front and back yards, mature trees providing cool shade, and a sloped backyard all contribute to a feeling of total seclusion. Plus, the 3-car tandem garage gives you all the space you need for vehicles and storage. But the fun doesn't stop there! Tierra Shores is a resort-style community with amenities that are just a short walk away. Spend your days fishing in the community lake, hosting events at the clubhouse with a full kitchen, or simply relaxing by the pool and spa. This home is truly a must-see! Don't miss your chance—schedule your showing today and start living the life you've always wanted!
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.
