27945 Redondela # 200, Mission Viejo, CA 92692
2 beds · 2 baths · 1,125 sqft
Newly Remodeled and Upgraded Beauty with Gorgeous Panoramic Mountain views ideally located in the highly sought-after Finisterra on the Lake community offering resort living at its best! Arguably one of the most coveted communities in Mission Viejo with exclusive resort like community amenities including private beach access, boat docks (owned by HOA and leased to owners, waitlist is in place), kayak & paddleboard storage, private lake access, picnic and BBQ areas, community events, two gated entrances, and HOA covers water & trash! Step inside this desirable single level unit and soak in the light filled spaces, sleek Luxury Vinyl Plank floors, crisp freshly painted interior, extra wide baseboards, recessed lighting, new ceiling fans/light fixtures, all setting the stage for an ideal living environment. Blessed with an open floorplan, the main living areas include an inviting fireplace, media nook, and stunning sit-down views of snowcapped mountains! The living room has direct access to a private balcony creating an ideal indoor-outdoor living space taking full advantage of the amazing views. The sparkling kitchen boasts dramatic new granite countertops, timeless cabinetry with updated hardware, matching appliances, and a welcoming breakfast nook! The spacious primary suite is a private oasis with sliders opening to the view balcony and a beautifully updated and redesigned primary bath with a new granite topped dual vanity, new hardware and faucets, new vanity mirrors, custom-tiled shower surround, and new shower enclosure and fixtures. The guest bedroom has been updated with new ceiling fan/lighting and mirrored closet doors. The full guest bathroom has also been remodeled with stylish new vanity, new fixtures, new vanity mirror, and new subway tiled shower. This beauty also includes a highly prized laundry closet with full size washer and dryer and storage cabinets. Convenient garage access is just a couple of steps from the front door into the 1 car garage with built in storage. Superbly located just steps away from the community pool and the private lakefront beach, marina, and lake walking paths. HOA repiped the units with pex plumbing and this home also includes 1 assigned covered parking space. Take advantage of the Lake Mission Viejo membership with access to all the amazing lake amenities including clubhouse, beaches, playgrounds, water activities, events, summer concerts, and 4th of July fireworks! Close to shopping & dining at Plaza Del Lago.
Source: CRMLS #OC25053393
Financials
Source: Public records
Source: CRMLS #OC25053393
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.