1540 La Cita Ct, San Luis Obispo, CA 93401
4 beds · 3 baths · 2,148 sqft
Discover the perfect blend of comfort and convenience at 1540 La Cita, tucked away in a quiet cul-de-sac near Sinsheimer Park, the Blues Baseball Stadium, and just minutes from downtown San Luis Obispo. This charming single-level home offers a 3-bedroom, 2-bath main residence and an adorable 1-bedroom, 1 bathroom ADU. The main home welcomes you with an open-concept design, seamlessly connecting the kitchen and living room—perfect for everyday living. The kitchen features a large island, while the living room boasts a cozy fireplace. Bamboo flooring flows throughout the main living areas, complemented by brand-new carpeting in the master suite and secondary bedrooms. The master suite serves as a private retreat with an en-suite bathroom, dual vanity sinks, and a sliding glass door leading to the backyard. Outside, enjoy a spacious concrete patio and gazebo, perfect for outdoor dining or relaxation. The attached ADU includes vinyl plank flooring, a separate entrance, and its own charm, offering great potential for rental income or a private guest space. Freshly painted throughout, this home is move-in ready! With ample parking, a prime location near San Luis Obispo High School, and proximity to parks and downtown, this property is perfect as a primary residence with immediate rental income, a family compound, or a smart investment opportunity.
Source: CRMLS #SC25060981
Financials
Source: CRMLS #SC25060981
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.
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