123 E Alondra Blvd, Compton, CA 90220
- beds · - baths · 864 sqft
Charming & Fully Renovated Duplex – Perfect for Investors or First-Time Buyers! This move-in ready, fully renovated duplex in Compton is an incredible opportunity for both seasoned investors and first-time homebuyers! With two attached one-bedroom, one-bath units totaling 864 square feet, this property is designed for maximum efficiency and cozy living. For investors, this duplex is priced to sell and offers immediate cash flow, with one unit already occupied by a tenant paying top-dollar market rent. The second unit is expected to be vacant within 60 days and can be negotiated to be delivered vacant at closing—giving you flexibility in occupancy and rental strategy. For first-time buyers, this is the perfect chance to offset your mortgage by living in one unit while renting out the other! Take advantage of rental income to make homeownership more affordable while building equity in a thriving market. With modern updates and renovations already completed, there’s little to no cost for additional improvements—just move in and start enjoying your new property. This is a rare find that won’t last long! Whether you’re expanding your investment portfolio or stepping into homeownership, don’t miss this high-demand duplex. Act fast and schedule your showing today!
Source: CRMLS #DW25037570
Financials
Source: Public records
Source: CRMLS #DW25037570
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.