2601 Basel Ct, Pine Mountain Club, CA 93222
2 beds · 1 baths · 768 sqft
Welcome to your dream mountain home nestled in the serene community of Pine Mountain Club, CA! This stunning single-level 2-bedroom, 1-bathroom residence is in move-in condition, offering the perfect blend of comfort and convenience. Situated on a nearly 1/4 acre flat lot in a peaceful cul-de-sac, this home provides ample space for outdoor activities and entertaining. ASSUMABLE LOAN at 2.25% provides over $100K of savings over the term of the loan. Located near the quaint downtown village, you'll enjoy easy access to delightful shops, restaurants, cafes, and local amenities. The community clubhouse is also close by, offering dining, entertainment, and an array of recreational activities including golf, tennis, pickleball and swimming. For outdoor enthusiasts, Pine Mountain Club boasts extensive hiking and biking trails, fishing, cross-country skiing, and an equestrian center, ensuring there's always something exciting to do. Perfectly positioned for both tranquility and accessibility, Pine Mountain Club is just 90 minutes from Los Angeles and a 2-hour drive to the beach, making it an ideal retreat from the hustle and bustle of city life while still being within reach of urban conveniences. Don’t miss the opportunity to own this beautiful single-level home in one of Southern California’s most picturesque communities. Schedule your showing today and start living the Pine Mountain Club lifestyle!
Source: CRMLS #SR24104289
Financials
Source: Public records
Source: CRMLS #SR24104289
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.
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 “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.