1024 Sanford Ave, Wilmington, CA 90744
3 beds · 2 baths · 1,176 sqft
The best gem of Wilmington living in this charming fully remodeled 3 bedroom, 2 bath, 1-level single family home, strategically located shopping , freeways access . Positioned in one Los Angeles County's area in relationship to the Los Angeles Port and beach areas, this house offers sophistication, harmonious blend of comfort and convenience. Upon entry, you will find fully remodeled interior featuring a spacious living room that opens up to a Hallway that leads to the remodeled kitchen and bedrooms and remodeled bathrooms-front and rear covered patios are perfect for relaxation or hosting guests. The combination of wood laminate and tile flooring creates a cozy and welcoming atmosphere throughout the home. This sunlit residence is a great fit for first-time homebuyers or astute investors aiming to leverage the thriving real estate market. Recessed lighting provides a contemporary touch, while the presence of almost all new appliances with an attached 2-car garage and 2 parking outside the garage behind the gated driveway offering convenient access and ample storage, including an inside washer and dryer, and ample cabinetry in the garage for your lifestyle is simplified. Beat the heat and revel in comfort on scorching summer days as you are close to the beach area.. Benefit from a central location with easy reach to the Banning museum, brimming within short driving distance diverse dining options and entertainment spots. Explore the charm of Wilmington living - a dynamic community devoid of Mello Roose fees, promising a top-tier lifestyle. This FHA approved property is an excellent opportunity to acquire a piece of paradise in this highly desirable area. Seize the chance to make this house your new home or part of your investment ventures by scheduling a showing today! All information deemed accurate but buyer to verify sq footage and lot size and schools in this school district. Huge backyard with an ADU possibility or grand entertaining landscape. Don't miss this opportunity to buy this gem.
Source: CRMLS #OC24237030
Financials
Source: Public records
Source: CRMLS #OC24237030
To qualify, you must meet the current FHA or VA 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%. 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.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
What is Roam?
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.
What is an assumable mortgage?
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.
Why is an assumable mortgage valuable?
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.
How can you find assumable mortgage listings?
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 “Get Notified” 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.
How do I qualify for an assumable mortgage?
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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.