29961 Wake Ct, Canyon Lake, CA 92587
3 beds · 3 baths · 2,678 sqft
Get a free consultation call with an expert in the mortgage assumption process.
HUGE PRICE IMPROVEMENT! MOTIVATED SELLERS! Welcome to this gorgeous 3 bedroom, 3 bathroom, plus office home in one of the most highly sought after locations in Canyon Lake. Located at the end of a cul-de-sac, this home offers 2,678 square feet of single story open concept living space, a large lot, and a mostly flat back yard with plenty of space for a pool. The driveway offers tons of parking along with a carport with room to leave your boat attached to a tow vehicle and a 3 car tandem garage. The downstairs bedroom has direct access from the garage, a private bathroom and a kitchenette that would be perfect for a parent, MIL quarters, maid quarters, teen or rental potential. There are washer & dryer hookups on both levels of the home. Wake Court is located a short walking distance to the community pool, Sunset Beach, Lighthouse Bar & Restaurant, clubhouse, park, tennis courts and community boat docks. The owned 33 panel NEM 2.0 solar system was installed to accommodate a future pool and produces double the average power bill. The $239 per month solar payment is assumable to the new buyer or can be paid off in escrow. Updated paint and flooring throughout. Incredible 20 foot ceilings all throughout the primary floor living space and bedrooms. Downstairs has a potential "Safe Room" with 3 concrete walls, or add a dumbwaiter from downstairs to upper level kitchen. This home offers single story living with the main living areas, kitchen, 2 bedrooms and the office located on one level. Canyon Lake is a year round resort style living community, featuring; A private 525 acre lake, The Canyon Lake Golf Course & Country Club, beaches, 20 parks (many which are lakefront and have docks to enjoy parks while out boating), fishing, tennis, pickle ball, basketball courts, baseball fields, pump track, dog park, an equestrian center, community pool, lodge with Lighthouse Restaurant and Bar, car shows, parades, amphitheater, concerts, senior center, gated entry with 3 guarded security gates (Main, North and East gates), hiking and biking trails and so much more! Canyon Lake is a golf cart community. Load up your friends and family and golf cart to the local parks, restaurants, beaches, shops or community events. Canyon Lake is truly one of Southern Californias best kept secrets. 1998 Malibu Response Boat with Monsoon 340 motor, wedge and Perfect Pass and Upstairs large Pentegon gun safe negotiable.
Source: CRMLS #SW25057274
Source: CRMLS #SW25057274
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.
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.
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.
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.
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 and Equal Opportunity Act.