79275 Rose Dawn, La Quinta, CA 92253
2 beds · 2 baths · 1,231 sqft
Immaculate two bedroom, two bathroom detached Single-Family Home in the Highly Desired 55+ Watercolors gated Community! Situated away from road noise and the entrance gate, this beautifully maintained detached single-family home offers the perfect blend of comfort, style, and convenience surrounded by nearby multi-million dollar homes and communities. With impeccable pride of ownership and tasteful upgrades throughout, this home is truly move-in ready! Step into the remodeled kitchen, featuring quartz countertops, Stainless steel appliances, custom-painted new soft close cabinets, a new sink, faucet and refrigerator. The open-concept great room boasts high 12+ft ceilings, ceiling fans, two new chandeliers, cozy gas fireplace, and an abundance of natural light. The spacious primary suite offers a large walk-in closet and an en suite bathroom with a dual sink vanity and a walk-in shower. Additional highlights include an indoor laundry space, an attached two-car garage, and a generous side yard patio with a sunshade-covered sliding door perfect for outdoor relaxation. Don't miss this rare opportunity to own a detached home in the desirable Watercolors 55+ community. Watercolors is an income qualified community offering low maintenance living, community pool/spa and a clubhouse. Close to shopping malls, restaurants and all amenities. Total Purchase price including silent second is $455,000.($352,000 + $103,000= $455,000). NO Rentals, NO cash purchases, NO investors- PRIMARY RESIDENCE ONLY. INCOME LIMITS, 1 person 57,401to 83,900, 2 people 56,351to 93,600, 3 people 63,401 to 105,300, 4 people 70,401 to 117,000. This property carries a $103,000 silent second mortgage. Call listing agent for details.
Source: CLAW #25506757
Financials
Source: Public records
Source: CLAW #25506757
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.