Welcome to this beautifully updated 2-bedroom, 2-bath home, ideally situated on a corner within the gated Montego community and located in the highly sought-after Temecula School District. Upon entry, a welcoming staircase leads to the main living level, where an open-concept floor plan seamlessly connects the kitchen, dining area, and family room. Thoughtfully designed for comfortable living and entertaining, all living areas, bedrooms, and bathrooms are conveniently located on one floor. The kitchen features elegant Taj Mahal quartz countertops, a decorative glass and stone mosaic backsplash, stainless steel appliances, and an upgraded range with built-in griddle. The counter area was thoughtfully redesigned and expanded to provide additional quartz counter space, creating the perfect spot for barstool seating, casual dining, meal prep, or entertaining while maintaining an open connection to the dining and family rooms. The family room features a cozy fireplace and media niche, while recessed can lighting with dimmer controls illuminates the kitchen, dining room, family room, hallways, and stairway. Ceiling fans in every room provide year-round comfort. Luxury vinyl plank flooring and upgraded 5-inch baseboards extend throughout the home, creating a cohesive and modern feel. The spacious primary suite features a walk-in closet, dual sinks, and a separate toilet area for added privacy. The secondary bedroom is currently arranged as a comfortable sitting room, offering flexibility for guests, a home office, hobby space, or traditional bedroom use. Additional features include a private balcony with neighborhood views and an attached garage complete with built-in storage cabinets and laundry hookups, providing both convenience and ample storage space. Residents of the Montego gated community enjoy access to a pool, two spas, and playgrounds. Conveniently located near shopping, grocery stores, restaurants, and Temecula Wine Country, this turnkey home offers the perfect blend of comfort, style, and convenience. Don’t miss this exceptional opportunity!
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.
