1321 Friends Way, Fallbrook, CA 92028
4 beds · 3 baths · 2,844 sqft
Experience the finest of Indoor-Outdoor Living in one of the best climates on the planet! Enjoy the country feel of a custom home on a private road with spacious property and the convenience and efficiency of 24 fully paid solar panels, EV car charger, new HVAC system, municipal gas, water and sewer…NO propane/NO septic/NO HOA/Low taxes…with a great potential for multi-generational or rental space! 1321 Friends Way is situated on a 0.72-acre fully fenced lot with southerly views. Enjoy an evening meal with friends and family from the heights of your well-maintained backyard deck (located off the dining room). Or catch the game on the deck with outlets for electricity and cable. The home is gracefully updated with 2844 sqft. of living space, 4 bedrooms (1 could be a home office), 3 full bathrooms, 2-car garage, and separate laundry room inside the home. The beautifully updated kitchen features granite countertops with bar height counter where the chef connects with diners, newer stainless-steel appliances (including double drawer dishwasher, hood vent, and five burner cooktop), dark finish cabinetry w/nickel finish hardware, pull-out shelves and spice organizer, butler’s pantry and a walk-in pantry. The private primary suite is separated from the secondary bedrooms and includes a spacious sleeping quarter with direct access to a private courtyard (perfect for relaxing and unwinding in a hot tub?) through French doors; as well as an ensuite bathroom complete with jetted tub, deluxe tiled and pebble-floor walk-in shower (enclosed by gorgeous glass) and a walk-in closet with well-designed organizers. A double-sided fireplace warms both the family and dining rooms. The usable, low-maintenance, nearly 3/4 acre lot is perfect for the potential addition of an ADU, pool, or anything you may desire. It is also cross-fenced with spaces separated into a manicured lawn, orchards, front yard, and parking spaces through 3 gates to accommodate your daily cars, RV with electric hookup, trailers and more. Other features of the home include: recently replaced roof; recently installed Milgard double-pane low-e windows; hardwood and tile flooring throughout; theater room with surround sound; gym area; French doors leading to the backyard lower deck; Coolaroo sun shade complete w/lights and electricity; “Catio” (outside secondary bedroom window); large backyard shed complete with lights and electricity; large built-in closet organizers in each bedroom; impressive storage spaces (hall closet, coat closet, laundry room closet); upgraded insulation (including the interior walls); 65 ft long driveway (heavy duty, 6-inch thick w/ reinforced rebar); recently installed solar-powered gate; lighting in attic and crawl spaces, auto-electric exhaust fans in the attic and garage, 7.2-GPM Rheem tankless water heater and Lennox air conditioner; orchard trees (avocado, orange, peach, pomegranate, lemon, lime); Rain barrels in front and back with pump to reduce water consumption. Your new life is just a short drive to a small town where you’ll see faces you know as you shop local grocery stores, coffee shops, restaurants, art studios, farmer’s market or attend many of the town’s fun events such as the Avocado Festival, farmer’s market, 4th of July and Christmas parades.
Source: CRMLS #NDP2503058
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Why Roam
Gap financing to lower your down payment
Unlock down payments as low as 5% – only with Roam
5x the likelihood your offer is accepted
If a purchase takes longer than 45 days, we’ll cover the seller’s mortgage until you close
Close faster and stress-free
We close 2x faster because of our deep experience and lender relationships
Rates and payments are estimates based on public records.
Source: Public records
Source: CRMLS #NDP2503058
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. When you apply for the loan, you must attest that the home will be your primary residence for 12 months to be approved for an FHA assumption. Most lenders will ask that you move in within 60 days.
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 “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.
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 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.
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