61827 Mountain View Cir, Joshua Tree, CA 92252
2 beds · 2 baths · 896 sqft
Gorgeous 2-Bed, 2-Bath Permitted Short-Term Rental with large Bonus Room & FHA Assumable 3.1% Loan!(Buyer must qualify to assume) .This stunning 896 sqft home + approx 400 sqft bonus room is a rare find! Not only does it offer a low FHA assumable 3.1% loan, but it’s also a fully permitted short-term rental, making it a fantastic opportunity for investors or those looking for a stylish desert retreat. The location of this home is amazing, only a quick drive down the road to all of downtown JT restaurants and shops and only eight minutes away from the entrance of the Joshua Tree National Park! As you arrive, you’ll be greeted by mature desert landscaping, including beautiful Joshua Trees, creating a serene and inviting atmosphere. Step inside to find an open-concept floor plan with polished concrete floors that flow seamlessly throughout the home, adding a sleek and modern touch. The spacious kitchen is the centerpiece of the home, featuring a large island, ample cabinetry for storage, and plenty of counter space—perfect for cooking and entertaining. The bonus room serves as an expansive living area, complete with vaulted ceilings, a large bank of windows offering natural light and patio views, and its own bathroom with a stylish walk-in shower and direct access to the side yard, where the jacuzzi is located. Both bedrooms are generously sized, with one featuring built-in storage and direct sliding door access to the jacuzzi area. The back yard is completely fenced with privacy fencing allowing you to fully enjoy the beautiful patio area. Whether you’re looking to continue operating this home as a successful short-term rental or make it your primary residence, the possibilities are endless! Don’t miss this incredible opportunity—schedule your showing today before it’s gone!
Source: CRMLS #JT25054738
Source: CRMLS #JT25054738
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.