Great opportunity! Over 5.37 acres of usable land! Zoned A-!-5 for light agriculture gives you many choices for using the land. Views all around. Home is on a 433A foundation! The home has 4 bedrooms, 2 bathrooms including a mudroom with access to backyard.. Large living room with vaulted ceiling has access to side patio through the French doors with side panels that open for fresh air. Laminate flooring through the main living areas. Kitchen offers lots of counter space with quartz counters, microwave, dishwasher and stove and glass door pantry. Roll out shelves great for baskets! Large farmhouse style double sided sink with picturesque window looking out the back. Bring your barstools to eat at the island or at the large dining room. The primary bedroom is located at one of the home away from the other three bedrooms. Vaulted ceilings and three semi-walk-in closets. The primary bathroom has a new vanity with dual sinks, quartz counter, new fixtures and lighting and Luxury Plank Vinyl Flooring. Substantial deep patios were added with Allumawood patio covers. The patios are deep and concrete slabs. The front door patio is wide and long. A separate Garage/Workshop is big with cement slab floor, high ceiling and has two metal roll-up doors with plenty of room for all those play toys. It’s being used as a workshop. The home itself is fully fenced in. According to Riverside County Office, you can add and ADU and additional dwelling attached to the home however, please verify for yourself with Riverside County. Land has a gentle slope to the back of the property. Septic and Well certs are already done. This is your chance to own land before it’s all gone. Close to Holland Rd., Scott Rd., Liberty High School and easy access to freeway and amenities.
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.
