Welcome Home to your custom resort in the heart of Temecula. Your open ranch style home is located in the Highly Desirable community of Serena Hills at the end of a quite cul-de-sac. As you enter, you are greeted by the fresh and inviting foyer and tile entry hall awaiting your family decorations. The entry hall opens to the awe inspiring Heart of your home with an open kitchen and living room design, high vaulted ceiling, completed with a custom split sliding door to the pool & spa. The kitchen area is the family and entertainment spot with granite counters, matching & complimenting backsplash, wine refridgerater and stainless appliances. The oversized granite island features a large stainless basin sink, and an abundance of counter area that overlooks the living room and pool. The spacious living room is complete with dual burning fireplace for cool winter evenings or open the split sliding door for cool summer nights. Your backyard is custom designed for entertaining with a private pool & spa and outdoor kitchen. The full outdoor kitchen showcases kitchen matching granite counters with a stainless & gas piped grill, refrigerator, ice maker and completed with a rise sink. Soak in the resort lifestyle lounging poolside while the family or guests play in the pool or one of the large side yards. Your primary room is complete with high vaulted ceilings and direct access to the spa. The primary bath exudes elegance with a custom tile accented oversized shower, deep soaking tub, backlit & defogging mirrors and matching granite counters. Enjoy family dinners in the formal dining room. Your home is zoned and located close to Temecula's Distinguished schools, several community parks, and other outdoor recreational activities and shopping. An added bonus, you are minutes from Beautiful Temecula wine country. There is so much more to truly appreciate that makes this house your home.
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.
