14801 Colter Way, Magalia, CA 95954
4 beds · 3 baths · 1,876 sqft
Nestled among the serene pines of Magalia, this delightful 4-bedroom, 3-bathroom home is brimming with features you’re sure to love. From RV parking to a private sauna and a detached living space, this property offers something for everyone. Step inside to discover a sought-after open floor plan, lightly painted walls, and an abundance of windows that invite in natural light while showcasing the picturesque surroundings. The spacious living room is the perfect spot for relaxing movie nights, while the adjacent bonus area provides endless possibilities—whether you need a home gym, a personal office, or a game room. Designed for the everyday chef, the kitchen is equipped with generous counter space, ample cabinetry for all your cookware, stainless steel appliances, an electric range for effortless cooking, a walk-in pantry, and a charming dining area warmed by its own fireplace. The primary suite is a true retreat, offering plenty of space, a well-sized closet, and an en suite bathroom featuring dual sinks, a walk-in shower, and your very own private sauna. Two additional spacious guest bedrooms, ceiling fans throughout, and a separate indoor laundry room add to the home’s convenience and comfort. Step outside to enjoy your morning coffee on the expansive front deck and take advantage of the storage shed for all your yard equipment. But that’s not all, this property also includes a detached unit with its own kitchen, living area, bedroom, and bathroom, making it ideal for multi-generational living, rental income, or a cozy guest retreat. Plus the HOA offers a pool, tennis courts, and a spacious club house. With an extensive list of amenities and a peaceful setting, this home offers the perfect blend of comfort and tranquility. Don’t let this incredible opportunity slip away!
Source: CRMLS #SN25066036
Financials
Source: CRMLS #SN25066036
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.