698 E Lynwood Dr, San Bernardino, CA 92404
3 beds · 2 baths · 1,695 sqft
Welcome to your dream home in the heart of San Bernardino! This beautifully updated residence, located on a picturesque corner lot along a tree-lined street, seamlessly blends character and modern convenience. The front porch is perfect for enjoying cool evenings. The stunning kitchen was fully remodeled (April 2024) with insulation added within the walls, and kitchen electrical was completely rewired. The kitchen is a chef’s delight, featuring brand new KitchenAid stainless steel appliances, a walk-in pantry, quartzite countertops, a farmhouse sink, and a double oven. The top oven is also a microwave. The open layout connects to the spacious dining room, making it perfect for entertaining. Soft-close drawers and recessed lighting add a touch of luxury. The living room boasts a large fireplace and beamed ceilings, creating a warm and inviting atmosphere. The adjoining sunroom, accessible from multiple areas, is filled with natural light and perfect for relaxation. Recessed lighting in the sunroom makes for great lighting in the evenings. The home offers a versatile layout with three bedrooms, including a front bedroom featuring new eco-friendly double-paned French doors that open to a tranquil side yard. The back bedroom includes two closets, one being a generous walk-in. Both of these bedrooms have ceiling fans to help keep your energy costs down. The spacious main bathroom is complete with a separate tub and shower. Enjoy an extra bedroom/office as well as another bathroom, with shower, down the hall from the kitchen. The quaint backyard features a patio with brick pavers that provides access to the large side yard with mature grapefruit trees, secured with beautiful wrought iron fencing, offering a serene outdoor space. From the opposite side of the house you have direct access to a detached garage for added convenience. There is also a a large private patio area in the front yard. Additional amenities include new light switches throughout the home, wood floors in most living areas, ample storage in the main hallway, and a large dining room perfect for family gatherings. Located only a few blocks from the Arrowhead Country Club. This home truly offers the best of both worlds—charm and modern amenities. Don’t miss your chance to make it yours!
Source: CRMLS #CV24208291
Financials
Source: Public records
Source: CRMLS #CV24208291
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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.