3700 Spice St, Lancaster, CA 93536
3 beds · 2 baths · 2,249 sqft
Assumable 2.625% Interest Rate AND A Brand New Air Conditioning and Heating System!! All the windows were replaced not long ago with High Efficiency, High Quality Double Pane Windows throughout at a cost of over $25,000! The Seller is willing to pay closing costs and/or buy down the interest rate! This Custom Built Single-Story residence offers a harmonious blend of elegance and comfort. Nestled at the end of a cul-de-sac, this gorgeous property boasts an open floor plan. As you step through the front door, prepare to be wowed by the Spacious Great Room. Vaulted ceilings create an airy atmosphere, while a beautiful brick corner fireplace adds a touch of cozy charm. Culinary enthusiasts will Love the Large Kitchen. Custom-built cabinets provide ample storage space. A double oven allows you to simultaneously bake a casserole and whip up a batch of cookies. The breakfast bar is perfect for casual dining or keeping the chef company, while the additional nook area offers a cozy spot for your morning coffee. For those who enjoy more formal affairs, the adjacent dining room provides the perfect setting for holiday feasts and dinner parties. This home features three spacious bedrooms, each boasting walk-in closets that would make any fashionista swoon. Both bathrooms are equipped with double vanities, perfect for couples who value their personal space during the morning rush. The primary bedroom is a true retreat, offering a serene escape from the hustle and bustle of daily life. High ceilings add to the sense of spaciousness, while the ensuite bathroom is a spa-like oasis. Soak away your cares in the dream soaking tub, or rejuvenate under the separate shower – the choice is yours! A large laundry room with plenty of cabinet space and a deep sink. The finished three-car garage provides ample space for your vehicles and perhaps that workshop you've always dreamed of. Step outside to a covered patio that's practically begging for summer barbecues and alfresco dining. It's the perfect spot to unwind after a long day or entertain friends. You'll find yourself just minutes away from Antelope Valley College. Nearby shopping centers ensure you're never far from life's necessities (or those little luxuries). Nearby Parks provide green spaces for outdoor recreation, while easy freeway access makes commuting a breeze. Don't miss your chance to make this house your home – schedule a viewing today and prepare to fall in love!
Source: CRMLS #SR24157236
Source: CRMLS #SR24157236
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.