320 E I St, Tehachapi, CA 93561
3 beds · 1 baths · 962 sqft
Fully Renovated 3-Bedroom Home in Tehachapi! This charming, completely renovated home offers the perfect blend of modern comforts and cozy living spaces. The open-concept kitchen has been fully updated with new GE appliances, including a dishwasher, 5-burner stove, and range hood. Engineered quartz countertops and sleek new cabinetry offer plenty of storage space for all your culinary needs. Enjoy meals in the cozy dining area, and luxuriate in front of a crackling fire in the wood-burning, cast-iron living room fireplace. All bedrooms are equipped with ceiling fans (remote-controlled for convenience) and plush new carpets for a soft, cozy feel. The third bedroom can be used as a home office or playroom, depending on your needs. Newly renovated bathroom with modern finishes and fixtures. Beautiful new laminate flooring throughout the main living areas as well as all new windows. Fresh paint inside and out gives the home a clean, modern look. Enjoy year-round comfort with a brand-new roof-mounted evaporative cooler. The laundry room includes washer/dryer hookups, plus a second fridge. The spacious front and back yards are enclosed with privacy fencing, perfect for gardening, pets, or outdoor entertaining. The backyard offers a handy storage hut with an additional foldable unit that can be easily set up for extra storage or workshop space. Just minutes from historic Old Town Tehachapi, Tehachapi High School, Jacobsen Middle School, stores, and easy freeway access, this property is an ideal choice for anyone seeking a peaceful and convenient lifestyle amongst quiet neighbors. The house has been digitally staged to enhance your viewing experience.
Source: CRMLS #PW25015959
Financials
Source: Public records
Source: CRMLS #PW25015959
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.