27509 Mountain Meadow Rd, Escondido, CA 92026
4 beds · 3 baths · 2,296 sqft
OPEN HOUSE THIS FRIDAY, 11:30-1:30. Nestled among picturesque Oak trees in Hidden Meadows, this beautiful 2,296 sq. ft. SINGLE-STORY home offers 4 spacious bedrooms, 3 full baths, and sits on a private, gated 1-acre lot—with NO HOA! From the lovely front yard, enter into an impressively-sized living room with a real, wood-burning fireplace. As you turn toward the open-concept kitchen (a true showstopper, featuring a stunning natural stone slate floor, granite counters, and a high-end Sub-Zero refrigerator), you’ll notice the gorgeous, rich wood cabinetry and French doors throughout the house. They add such warmth & and charm to this special place. The Primary and main guest baths have been beautifully remodeled. Time to step outside onto the huge, 700 ft. entertainer’s deck with an outdoor ceiling fan & cafe lighting, perfect for hosting or simply unwinding in nature. The expansive 1-acre lot has room for an ADU, an RV, a pool, or wherever your creativity takes you. Designed for both beauty & sustainability, this 100% electric home is powered by PAID solar and a whole-house battery backup system ($42,000 value!). You’ll stay comfortable year-round with a smart, dual AC/heating system. The Yamaha Indoor/Outdoor Surround Sound System enhances every gathering, whether you’re inside or out. Storage is a dream with well-placed, built-in storage solutions at every turn. Green thumbs will love the greenhouse, raised planter boxes, and nine citrus trees, offering homegrown fruits and veggies year-round. Plus, recent upgrades like a new roof and gutters add even more value.
Source: CRMLS #NDP2502776
Source: CRMLS #NDP2502776
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.