Welcome to the Tripoli floorplan in the sought after Crown Pointe subdivision in beautiful Phillips Ranch. This is a Mediterranean elevation with modern interior finishes. Move in ready with an ideal design featuring a downstairs bedroom and bathroom with 3 additional bedrooms and 2 bathrooms upstairs. The builder advertised the home as 2356 sf. A step-up front porch entry opens to the foyer with cathedral ceilings through the living room. Take 3 steps down from the living room to the formal dining room and a set of French doors to the side yard. Adjacent the dining room is the family room and fireplace which is open to the fully equipped and modern kitchen. Stylish cabinets and a commercial grade stainless steel gas range along with a built-in refrigerator. The stainless-steel sink is viewing to the expansive back yard. A convenient nook has a garden window, also positioned to soak in the backyard views. The family room boasts a fireplace graced with granite slabs. Around the corner is a downstairs bedroom and a remodeled full bathroom. The laundry room is next to the downstairs bathroom. Taking the wide staircase up, leads to 3 bedrooms and 2 remodeled bathrooms. The 2 secondary bedrooms are nicely sized. They look toward the front yard and are southeast facing. One of the rooms has built-in cabinetry to make for an ideal office. Double doors lead to the primary bedroom. High ceilings, a sitting area with a fireplace, and a private balcony makes this room a luxurious haven. Enjoy the jetted tub, walk-in closet, and oversized walk-in shower. A mini split ac has been added for localized cooling which will save in energy costs. Electric car charger hookup in the garage! The roof is appx 6 years new, and a newer water heater! There are endless possibilities in the spacious back yard, encompassing a 1/3 of an acre! 2 gentle slopes can be terraced or expand the yard with retainer walls. RV parking potential on the garage side of the home. Add a retainer wall. Build a pool and spa and an ADU, there is room for both. Phillips Ranch is just a 10 minute drive to The Shoppes and Costco in Chino Hills or The Spectrum in Chino. Easy freeway access to the 10, 57, 60, 71, and 210. Award winning schools are shared with N. Diamond Bar. Walk to the local greenbelt for dog walking or exercise. Local shopping at the Walmart, Winco grocery, shops and restaurants and Target. Phillips Ranch is a great value and fantastic place to call 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.
