6 Celena Ct, Oroville, CA 95966
3 beds · 2 baths · 1,783 sqft
Located in Kelly Ridge, one of the most prestigious neighborhoods in Butte county, this home is a dream come true for anyone wanting to live by the lake! Located on a quiet cul-de-sac, this home offers a large, wrap around driveway perfect for your boat and all of your toys. The home welcomes you with an updated kitchen, granite countertops, newer laminate wood flooring throughout and newer carpet in the bedrooms, soaring ceilings in the family room, a gas fireplace, two dining areas, a large front porch, and access to an expansive new back Trex deck for all of your entertaining and BBQ needs. The large primary suite offers a large soaking tub, separate shower, ample storage, and a private deck off the bedroom with a newer jacuzzi spa. It also offers two guest bedrooms with back patio access, a guest bathroom, and a separate laundry room with plenty of storage. The home includes assumable solar with qualification AND had a new HVAC system installed in 2024. The backyard is full of ornamental pear trees and has a large shed for your gardening toys and hobbies. This home is truly a piece of Paradise that can be savored and enjoyed after a long day at the lake. Call today for a private showing, this one won't last long!
Source: CRMLS #SN25074335
Source: CRMLS #SN25074335
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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.