1908 Valencia St, Santa Ana, CA 92706
3 beds · 3 baths · 1,447 sqft
ASSUMABLE FHA LOAN AVAILABLE AT A VERY LOW INTEREST RATE! Embrace the opportunity to transform this charming Park Santiago residence into your personal haven. This single-story, 1,447 sq. ft. Craftsman home boasts 3 bedrooms and 3 full bathrooms, providing the ideal canvas for your dream living space. The spacious primary bedroom offers a serene retreat, while the combined living and dining area creates a perfect flow for both relaxation and entertainment. Sitting on the largest lot on the block, there’s ample room for an ADU and/or room additions, without the need to forfeit any of the overabundant parking space. The heart of this home is the expansive kitchen, featuring warm wooden cabinetry, sleek countertops, and ample space for culinary creativity. The elegant tile flooring adds a touch of sophistication and easy maintenance to your daily life. In the living room, a classic brick fireplace serves as a captivating focal point, promising warm gatherings on cool evenings. Large windows flood the space with natural light, creating an inviting atmosphere for family time or entertaining guests. The bedrooms offer generous closet space, ensuring organization is a breeze. The bathrooms, while ready for your personal touch, provide essential functionality with a blend of modern and rustic elements. Located near the 5 and 22, this home places you in the heart of Orange County's vibrant community. With its endless potential, this property is not just a house – it's an opportunity to craft the lifestyle you've always dreamed of. Don't miss your chance to turn this space into a stunning showcase of your personal style and aspirations.
Source: CRMLS #PW25038680
Financials
Source: CRMLS #PW25038680
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.