10313 Gorman Ave, Los Angeles, CA 90002
3 beds · 1 baths · 1,159 sqft
Welcome to your dream starter home, perfectly crafted for the first-time homebuyer seeking an affordable slice of Los Angeles living! This charming residence is not just a home; it’s a gateway to the vibrant life of the City of Angels. Imagine being just minutes away from the world-renowned entertainment capital, with Downtown Los Angeles pulsating with energy right at your fingertips. Indulge in retail therapy at nearby shopping destinations like Lakewood, Cerritos, Downey, Hawthorne, and the iconic Fashion District. For sports enthusiasts, you’ll be in the heart of the action, with legendary venues like the LA Memorial Coliseum, Crypto.com Arena, BMO Stadium, Kia Forum, Dodger Stadium, SoFi Stadium, and the new Intuit Dome all within easy reach. Step inside this lovingly maintained home, where modern style meets functionality. The kitchen boasts sleek newer cabinets complemented by stunning granite countertops and recessed lighting, making it a culinary enthusiast's dream. The waterproof laminate flooring flows seamlessly throughout the living spaces, while the tiled bathroom floor adds a touch of elegance. Enjoy the comfort of ceiling fans and step outside to your covered patio, perfect for entertaining or simply relaxing in the California sun. With three spacious bedrooms and a versatile bonus room that was once the garage, you have the flexibility to customize your space to fit your lifestyle. Whether you choose to keep the bonus room as is or revert it back to a garage, the possibilities are endless. This is more than just a home; it’s an opportunity to embrace the Los Angeles lifestyle at its finest. Don’t miss your chance to make it yours!
Source: CRMLS #RS24247013
All values shown are estimated costs / mo.
Source: Public records
Source: CRMLS #RS24247013
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.
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.
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.
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 620, 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.