29570 Lilac Rd, Valley Center, CA 92082
3 beds · 2 baths · 1,590 sqft
Step inside your own peaceful and one-of-a-kind oasis! As you drive into the gate, you will be greeted with the sight of a Tuscan-style, custom built home complete with Spanish tiles, rustic wood designs and intricate stone accents. When you step inside the timeless wooden door you will be welcomed with high vaulted ceilings, exposed wooden beams and an open floor plan, plenty of space for entertaining. This house boasts three spacious bedrooms and two carefully crafted bathrooms that complements the whole aesthetic of this beautiful house. Walk into the kitchen and behold the charming feel complete with stainless steel appliances, grand cabinets and polished iron fixtures. Step outside to your own private balcony with 180 degrees of unobstructed views of the valley. Breathtaking views that will catch they eyes of everyone who steps foot inside! The over 2.1 acre lot provides a place of tranquility and quietness while still being close to all of what San Diego has to offer. The back portion of the lot is great for expanding the house, building a casita or whatever your mind can dream of!
Source: SANDIEGO #250018622
Financials
Source: Public records
Source: SANDIEGO #250018622
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.