15309 Forest Ranch Way, Forest Ranch, CA 95942
3 beds · 3 baths · 2,036 sqft
Welcome to this incredible home nestled on a .92 acre lot in the Forest Ranch Evergreens. Fantastic Views of the coastal mountain range & the canyon below. This home offers just over 2000 square feet of living space. The tiled entry leads to the 20Ft. vaulted ceilings in the living room & dining room! The wood beam ceilings are accented with knotty pine tongue and groove planks. The living room offers a free standing wood stove resting on a rock hearth, view windows and an entrance to the back deck. The spacious kitchen offers tiled counter tops, 3'X4' island with sink, built in range, built in oven & microwave, walk in pantry just off kitchen, tons of cabinets and built in desk area and display hutch. Off the kitchen is the laundry room with half bath. Off the living room is the 2 guest bedrooms, one guest bedroom has a slider to the deck and great views. The guest bath has been updated with 12X12 tiled floors, tiled counter tops and a tiled tub/shower combination. Up the stairs is a loft area which leads to the master bedroom and finished bonus room. This bonus room can be used as a den, office, or an extra room with no closet. The master bedroom has a viewing deck and walk in closet. The master bath has been updated with 12X12 tiled floors, tiled counter tops and a fully tiled walk in shower. Two car attached garage. Home has a new roof, gutters, downspouts, and solar installed in 2022. New window panes with balances installed. All restroom toilets with their corresponding above ground plumbing replaced in 2022. All new ceiling fans installed in the last 2 years. A considerable amount of work has gone into the backyard to clear brush and trees which has resulted in a great usable space and an incredible view. Backyard is fully fenced in with two usable gates on each end which is only a year old. there are two detached sheds for storage on the garage side of the home. This home is ready for a new owner to take over and enjoy all it has to offer.
Source: CRMLS #SN25064391
Source: CRMLS #SN25064391
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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.