320 Hidden Trails Rd, Escondido, CA 92027
4 beds · 3 baths · 2,847 sqft
Get a free consultation call with an expert in the mortgage assumption process.
Tucked away in one of East Escondido's most scenic communities, this lovely two-story lives and functions as a single-story. Arguably one of the best floorpans in this idyllic neighborhood, this beauty features most of the living spaces downstairs, including a spacious primary suite with dual walk-in closets, another bedroom, a dedicated home office and the laundry room. The only rooms upstairs are two additional bedrooms and a full bath, making this home perfect for guests and extended or multi-gen families. The kitchen is the center of this home and is located near the living/dining areas and opened to the adjacent family room. A fireplace and French doors bring charm to the family room and the kitchen is large enough to hold all your people and all your things. Owned by the original owners, the beautiful yard has been a labor of love creating a low water but high impact landscape filled with colorful and mature plants and trees. Wander the meandering stone paths and find hidden places to sit and relax and even a fenced garden room. New HVAC and newer kitchen appliances are recent updates to this elegant home. The garage is a three-car footprint with parking for two-cars and the third bay created to be a work-room area. This very special home has been well-loved for over 23-years. However, one of the owners passed peacefully in the home one year ago, and now it's time for new owners to love and enjoy this lovely home.
Source: CRMLS #NDP2502980
All values shown are estimated costs / mo.
Source: Public records
Source: CRMLS #NDP2502980
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.
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 of Equal Opportunity Act.