4828 Paint Horse Trl, Santa Maria, CA 93455
4 beds · 4 baths · 3,533 sqft
An exceptional equestrian residence on the Central Coast of California. This custom single level Mediterranean style home sits on a perfectly planned acre lot (1.02) with a circular drive, tucked away side-entry three car garage, and gated RV parking. The home itself is 3533 SF with 4 bedrooms, (3 with private en-suites), and a total of 4 full bathrooms. The Westrail Estates community is a quiet and serene setting for the horse enthusiast; this inviting enclave of estate homes offers trails surrounded by the Orcutt hills as well as quick access to the shops, wine tasting rooms, and restaurants in charming Old Town Orcutt. The great room combines a den area and a chef's kitchen with stainless appliances, oak cabinetry, a large island with seating and gas cooktop, double oven, granite counters, breakfast bar and a separate dining area. The family room features a vaulted ceiling with wood beam accent and a stone faced fireplace framed by picture windows with idyllic views of the backyard patio space and garden. The primary suite also features views of the patio and has two walk-in closets, beautiful built-in dark wood cabinetry with vanity lighting, glass tile accents, dual sinks, corner soaking tub, walk-in shower, and private water closet. The outdoor space is a true oasis ideal for entertaining on a grand scale with a custom built, pebble-finish pool with two decorative fountains and a spa, expansive outdoor kitchen with seating, gas cooktop, sink, and a gas grill. The patio offers an elegant paver hardscape throughout with a lawn overlooking and leading to a play and storage area in back. Central air conditioning, and solar installed for the home and pool. Information deemed reliable but not guaranteed or verified by the broker.
Source: CLAW #25497997
Financials
Source: Public records
Source: CLAW #25497997
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.
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