Back on the Market - NO Fault of Seller: Your single story with pool and yard, turnkey, resort home is located at the end of a quiet cul-de-sac in the Highly Desired community of Serena Hills. This home has been completely remodeled to custom standard with subtitles throughout blending the entire home together. The entry hall opens to the awe inspiring high vaulted open kitchen and living room that is the heart of this home. The kitchen is the center piece of culinary and entertainment delight, complete with granite counters, oversized island, stainless appliances, deep bowl sink, and topped with your own wine fridge. The island counter granite is inlayed in the backsplash with matching decorative stone accenting the fireplace and outdoor kitchen. The home has been freshly painted awaiting your decorative touch while the tile wood accent flooring keeps this home cool year-round. The spacious living room has a dual burning fireplace, oversized wall for entertainment and custom split slider providing an incredible pool view, hear the soothing spa waterfall and allows gentle breezes to cool the home, saving energy costs. The backyard is an entertainers dream with a custom-built outdoor kitchen complete with granite counters, fridge, ice maker, gas piped grill and wash sink. Relax day or night on the spacious pool decks while the kids play in the pool or large side yards and enjoy your evenings with the decorative pool and yard lighting. Your primary room has a private slider to the spa and lounging area. Your custom bath is completed with an oversized shower, soaking tub with matching granite counters and accent walls, and backlit LED mirrors. The guest bath has a custom tile & stone shower with glass barn door for a very clean & modern look. Close by are Distinguished schools and community parks that host events year-round outdoor activities for children. Lastly, you are minutes from fabulous restaurants, shopping and Temecula's Famed Wine County. Sellers and Buyers inspections, preventative and annual service has been completed as well as Defensible Fire and WDO clearances. If you are looking to start or are raising a family or downsizing, this home has everything you'd want without having to do it yourself with no detail is overlooked. Start living the resort lifestyle today.
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.
