LOCATION! LOCATION! MOVE-IN-READY! SOLAR! Highly desirable Roripaugh Ranch home Shows like a model - upgrades galore! Upgraded floors. Upgraded countertops. Upgraded Master Bath. Upgraded Shutters. Upgrades + This home is almost 3700 sq ft open floor plan, and it's located on a cul-de-sac with one of the largest lots n the community. This is the best of the best. There's a full bathroom and a very large bedroom on the main floor, plus an office enclosed by glass bay doors. Formal hallway leads you to a true luxury experience where you will find, to the left: a stunning large kitchen with a large island and walk-in pantry next to a gorgeous dining area with views of the backyard. To the right: A huge living/family room with a gorgeous fireplace. The living room is pre-wired for a surround system. A full wall of glass sliders that open to a covered "California-Room" large enough to accommodate an expansive lounge set up giving you a true "indoor/outdoor" living experience, also has its own fireplace to add that extra cozy ambiance for those relaxing outdoor evenings. The backyard has "plumbing" for a pool that was done ahead of time when the hardscape was completed. The backyard is MASSIVE and STUNNING!! Already completed enough to enjoy as-is, while also not overly done, you can still add your own touches to showcase your personality and lifestyle. Upstairs is a HUGE loft. The model home used the cutout as a sink/drink station and had a small movie theatre / viewing area. This space is massive! Current owners used it as a pool table area. The master is separate from the other bedrooms upstairs and is oversized, as is most everything here. There's a king bed frame shown now and it looks small in this room - Master will easily accommodate most bedroom sets, plus some chairs for a reading space or?? The Master bath is ALSO HUGE with separate "his-hers" sink areas, and a bath tub located across an oversized walk-in "spa-like" shower. The remaining bedrooms are located upstairs and are oversized. The clubhouse you will see as you enter through the guard gate. The community offers country club-like amenities including clubhouse, gym, pool, spa, tennis courts, basketball courts, tot lots, central park, and a private walking trail that is approx 3 miles long with a "forest-like" feel. Just minutes from shopping, wineries, award-winning Temecula school district, mall, restaurants, old town Temecula - must see to appreciate! This one is actually better in person!
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.
