24771 Paramount Dr, Tehachapi, CA 93561
4 beds · 3 baths · 3,011 sqft
Back on the market! Imagine strolling up a walkway shaded by ancient stately oaks, taking in magnificent mountain and picturesque valley views, and being serenaded by birds in flight. Opening the door to a sun-lit, spacious custom-built home - and then saying to yourself, I can't believe this is MINE! Welcome to this splendid 3000-square foot mountain retreat, nestled on 4+ wooded acres. Cris-crossed by trails, it is a nature-lover's paradise. Wildflowers color the hillsides in the spring, and deer are frequent visitors all year long. Expansive decks on two stories provide your overlook on the world of Bear Valley Springs. Inside, you can appreciate the feeling of bringing the outdoors indoors. Gracing the two-sided stone fireplace are massive live edge oak mantels, crafted by a local artisan. Full-story windows and vaulted ceilings lend an airiness and open feeling. Each bedroom has its own deck - wonderful for star-gazing at night - and the Master Bath has a glass shower wall for surveying your Kingdom. Pride of ownership is evident in the care that has been taken with this home. Over $120,000 has been invested in a new HVAC system, a whole house generator, interior and exterior painting, tile flooring, a renovated Master Bath vanity, concrete retaining wall, updated exterior lighting, and covered rain gutters. Storage is bountiful in the downstairs, with built-in shelving and workbench area. Another downstairs room lends itself to numerous possibilities, such as a media room, game room, or wine cellar. Voted by PC Magazine as one of the best places in the US to work from home, you may be able to telecommute with ease. In other words, you may never want to leave home - and you may never have to!
Source: CRMLS #SR25040712
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Why Roam
Gap financing to lower your down payment
Unlock down payments as low as 5% – only with Roam
5x the likelihood your offer is accepted
If a purchase takes longer than 45 days, we’ll cover the seller’s mortgage until you close
Close faster and stress-free
We close 2x faster because of our deep experience and lender relationships
Rates and payments are estimates based on public records.
Source: Public records
Source: CRMLS #SR25040712
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.