4969 Randolph St, Maywood, CA 90270
4 beds · 2 baths · 1,571 sqft
BLESSED!! AMAZING—Hot new listing! Almost 1,600 s/f of living space. 1st time on the market in over 40 years. Desirable 3 bedrooms, 1 bathroom PLUS bonus full studio master suite attached to rear with its own private entry, full kitchen and 2nd full bathroom (RENTAL income?). Seal up the door at end of hallway and you will have 2 instant units. Front unit - 3 bedrooms 1 bath, rear unit 1 full studio apartment. Finish garage conversion and you will have a total of 3 income producing units with plenty of parking. The kitchen is open to the dining area and its large windows bring in a lot of natural lighting. Nothing in the entire city of Maywood like this home. TONS OF POTENTIAL for adding living space, ADU or rental income. Absolutely the best deal all SOUTH CALI. Being sold “AS-IS” with NO repairs, Close to shopping, schools, bus transportation, freeways and DTLA. Detached garage has an UN PERMITTED yet functioning bathroom, kitchen and living quarters. Perfect for rental income or complete the project for your own ADU. Massively long driveway can accommodate up to 6 cars. This home must be SOLD FAST as trustees are out of area and need a quick sale. Home priced way below current market value. Property is well known in the neighborhood for its 2 famous, mature, BIG MANGOS TREES planted by original owner from imported CUBAN mango seeds. Best mangos in all of California. Seller has recent appraisal on hand showing a higher value in its present condition
Source: CRMLS #DW25066281
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Why Roam
Gap financing to lower your down payment
Unlock down payments as low as 5% – only with Roam
5x the likelihood your offer is accepted
If a purchase takes longer than 45 days, we’ll cover the seller’s mortgage until you close
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We close 2x faster because of our deep experience and lender relationships
Rates and payments are estimates based on public records.
Source: Public records
Source: CRMLS #DW25066281
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. When you apply for the loan, you must attest that the home will be your primary residence for 12 months to be approved for an FHA assumption. Most lenders will ask that you move in within 60 days.
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 “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.
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 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.
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