16273 Castello Ln Unit 1, Fontana, CA 92336
3 beds · 3 baths · 1,926 sqft
Discover modern living at its finest in this stunning, like new, two-story detached home located in the Monterado Gated Community in North Fontana. Situated near Coyote Canyon and Citrus, this modern gem offers a lifestyle enriched by top-notch amenities, including a resort-style pool, relaxing spa, recreation center, clubhouse, children's playground, picnic areas with BBQ grills and fire pits, outdoor fitness equipment, dog parks, and scenic walking trails. Step inside and be greeted by an open-concept design featuring 3 spacious bedrooms, 2.5 bathrooms, and a versatile 2-car garage. The backyard, enclosed by brick walls, ensures privacy while the low-maintenance front garden adds curb appeal. The first floor boasts a light-filled living room, a dining area perfect for entertaining, and a kitchen complete with quartz countertops, quartz back splash, a breakfast bar, stainless steel appliances, self-closing cabinets, and an oversized pantry. A convenient guest bathroom rounds out the downstairs space. Upstairs, you'll find all three bedrooms, including a luxurious primary suite with a spa-like bathroom featuring a walk-in shower, a soaking tub, dual vanities, a private toilet room, a linen closet, and a spacious walk-in closet. The upper level also includes a cozy family or game room, a full bathroom, a laundry room, and breathtaking mountain views from every bedroom. With 1,926 square feet of well-designed living space, this Rivello model condo offers the ambiance of a single-family home. FULLY PAID SOLAR PANELS add value and energy efficiency to this exceptional property. Don't miss the opportunity to see this beautiful home in person—fall in love with your dream home today!
Source: CRMLS #CV25013939
Financials
Source: CRMLS #CV25013939
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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