2123 Element Way, Chula Vista, CA 91915
4 beds · 4 baths · 2,157 sqft
Ideally situated in the highly sought-after Millenia Community of Otay Ranch, this exquisite detached residence seamlessly blends modern sophistication with everyday comfort. The light-filled, open-concept main level welcomes you with a stylish gourmet kitchen, boasting abundant counter space, ample cabinetry, premium stainless steel appliances and a generous island with breakfast bar seating—perfect for casual dining and entertaining. Flowing effortlessly from the kitchen is a charming eat-in dining area and a private, thoughtfully designed yard, while the inviting living room provides a warm and elegant retreat. Ascending to the second level, you’ll find a tranquil sanctuary featuring three well-appointed bedrooms, two full baths, a versatile home office/den and a convenient full-size laundry closet. The spacious primary suite captivates with soaring ceilings, oversized windows, an expansive walk-in closet, a spa-inspired ensuite bath with dual sinks, a generous walk-in shower and designer finishes. The top floor unveils a flexible loft space, ideal for a home office, playroom or potential fourth bedroom. Thoughtfully designed with modern comforts, this home includes central A/C, high ceilings, recessed lighting, ceiling fans and an attached two-car garage with storage. Just steps from the community pool and spa, scenic parks, playgrounds and a dog park, this exceptional home also enjoys proximity to top-rated schools, Otay Ranch Mall, local dining, scenic hiking and biking trails and convenient freeway access.
Source: SANDIEGO #250022096
Financials
Source: SANDIEGO #250022096
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.