14365 Troy Way, Magalia, CA 95954
3 beds · 2 baths · 1,771 sqft
Nestled in one of Magalia’s most desirable neighborhoods, Troy Estates, this picturesque home offers the perfect blend of mountain charm and modern convenience—without the restrictions of an HOA. Surrounded by vibrant trees currently showcasing their fall colors, the property boasts mature landscaping, a delightful covered front porch, and an eye-catching turret-style dining nook. Step inside and experience the cozy ambiance of the living area, where vaulted wood-beamed ceilings and a wood-burning stove create the warm and inviting atmosphere you've been searching for. The country kitchen features granite countertops, stainless steel appliances, and a serene dining nook overlooking the peaceful front yard. The spacious primary suite, located at the rear of the home, offers a walk-in closet, a walk-in shower, and an oversized soaking tub, providing a private retreat for relaxation. Outside, the backyard is a haven for outdoor enjoyment, offering multiple spots to unwind, as well as two handy storage sheds tucked in the rear corner of the property. And with a whole-house generator, you’ll never have to worry about power outages. Make this enchanting home above Paradise your own and enjoy all that mountain living has to offer!
Source: CRMLS #SN24236887
Financials
Source: CRMLS #SN24236887
Source: Public records
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%. 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.
Other resourcesWhat 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.