29433 Stampede Way, Canyon Lake, CA 92587
4 beds · 3 baths · 2,600 sqft
** Canyon Lake Beauty** Assumable VA Loan with Very Low Rate! (See Private Remarks) You are going to fall in love with this gorgeous 4 bedroom 3 bath home with an Upstairs loft, Downstairs master bedroom, and 2 other Bedrooms. The open concept living spaces Tastefully decorated with Built in's has stunning views of the Amazing Pool and Spa! The Highly Upgraded kitchen is a chef's dream come true with Amazing Custom Cabinetry with Roll Out Storage Drawers and High End Granite Countertops, matching appliances including a Double Oven, a Custom island, and Built in TV! Just imagine cool fall evenings entertaining friends and family or snuggled up watching a movie in front of the living room Slate Stone Fireplace. The Extremely low maintenance back yard has a custom Patio Cover and a Large Stunning Pool and Spa, surrounded by a Perfectly Manicured Backyard that has Beautiful mature Foliage in Giant Pots that come with the house. The Spacious Master Suite has a Huge Walk in Shower, a Walk in closet and an Awesome Bay window set up with custom Cabinets and Full Shutters! There are another 2 other Bedrooms and a Full Bath on the Main Floor. The Large Loft can be a 4th Bedroom, or Office and has a Built in Desk, a Walk in Closet, a Powder room, and Get this, a Balcony!! A Three Car garage will afford you lots of room for your toys. Top it off with an Indoor Laundry Room to round things out. You won't have to worry about high electric bills since the house COMES WITH a FULLY PAID for SOLAR SYSTEM that is INCLUDED in the sale price. Living in Canyon Lake means that you will enjoy all of the community amenities including, Our Wonderful Water Ski Lake, Golf Course, Many parks, playgrounds, tennis courts, Pickle ball, 2 working Restaurants with Bars, a Full Hookup Campground, and much more! More than a home, it's a lifestyle!
Source: CRMLS #SW25037083
Source: CRMLS #SW25037083
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.