1408 S Burris Ave, Compton, CA 90221
3 beds · 2 baths · 1,302 sqft
Huge Price Reduction! Welcome to 1408 South Burris Avenue in Compton! Discover your dream home in this stunning 3-bedroom, 2-bathroom residence that combines affordability and comfort. This property is perfect for families and entertaining, with over 1,300 square feet of thoughtfully designed living space and a generous 5,166 square foot lot. Imagine the possibilities with a detached 2-car garage that offers the potential for an Accessory Dwelling Unit (ADU). Whether you create a cozy granny flat or additional space for your growing children, the flexibility is yours! The home features a bonus room tastefully converted into a master bedroom with a convenient glass sliding door that opens directly to your backyard oasis. Step outside to a beautifully landscaped backyard designed as the ultimate entertainment zone for hosting friends and family. Enjoy evenings under the stars with turf grass and accent lighting that add a magical touch to your outdoor gatherings. Location is key, and this home is ideally situated near the stunning Dominguez Gap Wetlands, offering opportunities for wildlife observation and nature walks. Dive into history at the Dominguez Rancho Adobe Museum, enjoy recreational activities at Magic Johnson Park, or try your luck at the nearby LA Crystal Hotel and Casino. The Aquarium of the Pacific in Long Beach, Harbor-UCLA Medical Center, and the Western Museum of Flight in Lomita are just a quick drive away. For shopping enthusiasts, you're just moments away from the vibrant Lakewood and Cerritos Malls, where you can enjoy a variety of retail options. Embrace the opportunity to live in Los Angeles County without the hassle of daily traffic! Experience the best of both worlds by living and working in this thriving area. Don’t miss this incredible opportunity to make 1408 South Burris Avenue your new home! Schedule a tour today and envision your future in this fantastic property!
Source: CRMLS #RS25035286
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Why Roam
Lower rates and lower down payments
The only homebuying option for you to put 5% down and get a 5% rate.
Closing guarantee
We can close in 45 days or we’ll pay the seller’s mortgage until we close.
Offer acceptance
95% of offers accepted when made with Roam. 5% accepted without.
Rates and payments are estimates based on public records.
Source: Public records
Source: CRMLS #RS25035286
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.