507 Valley Dr, Crestline, CA 92325
3 beds · 3 baths · 1,932 sqft
Unique and Serene Living. This one has tons of character with Level entry and plenty of parking that everyone needs. 2 car attached garage with storage. Perfect vacation home or make it your joyous family retreat 3 bedrooms and 3 full baths. Completely turnkey and ready for it’s new owners. Roof replaced 3 years ago, freshly painted inside and out. All new flooring October 2024. Upstairs bedroom/loft includes it’s own bathroom. The main level entry takes you into the spacious living, kitchen, dining room with a separate family room with French doors. The kitchen has an adjacent extra dining room with pantry and storage. All main living areas have outdoor ground access. Downstairs is the main master suite with additional sitting area to enjoy the patio and tree lined view. Wrap around decking. Main master bath is expansive with a soaking tub and shower. 3rd bedroom is downstairs The grounds are immaculate, fully fenced to enhance your outdoor living experience. Excellent location with year round access. Less than a mile from Lake Gregory, minutes to town to enjoy all this mountain community has to offer.
Source: CRMLS #HD24195878
Financials
Source: CRMLS #HD24195878
Source: Public records
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%. 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.
Other resourcesWhat 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.