423 Forest Ln, Crestline, CA 92325
1 beds · 1 baths · 640 sqft
Charming TURNKEY property. Everything can stay from the ROKU to the utensils. The top floor is an open loft that is currently set up to sleep 6 comfortably. Top floor has enough room to possibly have 2 separate area/bedrooms if one so wanted. The ROOF is less than a year old and warranty may be transferred to new owner. Backyard is fenced for the safety of small children and pets, fence is also new. Newer water-heater - approx.2 years old. Level entry with ample off street parking in front of the home. If a quiet ready to go get away is what you need & want look no further here it IS. Whether full time or part time. Short commute to the bottom of the hill(210) for work or play. Our mountain has many assets for all walks of life. The center of Crestline/Lake Gregory is 8 minutes form your door. Winter activities IE: Tubing, skiing, snow boarding etc is about a 30 minute drive Santa's Village at Sky park is also about 20 minutes away by vehicle. Silver-wood Lake is on the back side 12 -15 minute drive. SO much to explore. This sweet charmer will be a get place to come back to and re-energize. Assumable VA Loan-Buyer to invesitgate. low interest rate
Source: CRMLS #EV24133227
Financials
Source: Public records
Source: CRMLS #EV24133227
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.