28161 Teton Ct, Laguna Niguel, CA 92677
4 beds · 3 baths · 2,104 sqft
Gorgeous Lake Park home with a main floor primary bedroom and totally reconfigured kitchen! Private, gated front courtyard entrance with large open area with the garage adjacent. This home features an incredible kitchen that was done in 2020 that entailed removing walls and a dropped ceiling and now has a large island that was not part of the original floor plan and now is totally open to the dining room and main living and family rooms. The kitchen boasts custom shaker wood cabinets with soft-close drawers, a farmhouse sink, a walk in pantry, leathered quartzite countertops, and new appliances (oven replaced in 2023). Luxury vinyl flooring and new baseboards enhance the first floor, while new light fixtures add a modern touch throughout. The main floor includes a spacious primary suite with a stunning primary bathroom that has been remodeled from top to bottom with new cabinets, countertops, sinks, mirrors, shower, and has a walk in closet and access to the backyard. An additional bedroom, bathroom and laundry plus the furnace was relocated, creating extra inside storage downstairs. Upstairs there are two more bedrooms plus a bathroom with dual sinks and a shower over tub. Off the front bedroom is a balcony overlooking the front courtyard. Additional updates include new paint, a new hot water heater (2023), dual-zone AC unit (2024), and new windows in the primary bedroom and a secondary room upstairs. Two car garage that has great storage capabilities overhead. Lake Park HOA includes a community park, pool & jacuzzi. Walking distance to Laguna Niguel Regional Park, which has hiking trails, picnic areas, sports courts, fishing at the lake, and areas to rent out for parities plus a 4th of July fireworks show. Costco, Whole Foods, Sprouts, Home Depot, the newly renovated YMCA, numerous restaurants and only a few miles to world class beaches, 5-star resorts, Laguna Beach, & Dana Point Harbor currently undergoing a major renovation.
Source: CRMLS #OC25045686
Financials
Source: Public records
Source: CRMLS #OC25045686
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.