8485 Salem Ave, Oak Hills, CA 92344
4 beds · 3 baths · 2,599 sqft
Welcome to this Peaceful yet Serene 4 Bedroom, 2.5 Bathroom West Oak Hills Home! Boasting nearly 2,600 SqFt. of Elegant Living Space, Sitting on Approximately 2 Acres. This Property is Fully Fenced with a Partially landscaped Front and Backyard. This Home is the Perfect Retreat you’ve been Dreaming of. Enjoy Breathtaking Mountain Views and the Convenience of being just a few lots off the Paved Road. Inside, you'll find 9-Foot Ceilings and an Abundance of Natural Lighting to Enhance the Highly Desirable Split Floor Plan. The Spacious Living Room features a Cozy Pellet Stove, Perfect for Relaxing Evenings. The Kitchen Features Granite Countertops with a BarTop, a Breakfast Nook, and a Massive Walk-in Pantry, All open to the Living area. A Separate Formal Dining Room adds a Touch of Elegance near the Entryway. All the bedrooms are Generously Sized, with Guest Rooms Featuring Stylish Accent Walls. The Master Suite includes an Oversized Walk-in Closet and a Luxurious Jetted Tub, providing a perfect retreat. Step outside to the Covered Back Patio with Artificial Turf, ideal for Enjoying the Outdoors. The 3-Car Garage has Epoxy Floors, Extra Insulation & a Mini Split for Climate Control! Additional 220V Power for Welding and a 100 AMP Subpanel, along with a 50 AMP RV hookup on the Exterior of the Garage for convenience. This Horse-Friendly property offers access to local trails. Also there is an **Approved 45x80 Steel Building with Grading Plans Available** Ask for more information! This home Truly Combines Comfort, Convenience, and Charm, Making it an Ideal Place to Call a Forever home. Schedule your Appointment Today!
Source: CRMLS #HD25058342
Source: CRMLS #HD25058342
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.