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$729,000 $SIGNI

Sign in to see required down payment for the 5.74% rate

887 Marigold Ct, San Luis Obispo, CA 93401

2 beds · 1 baths · 900 sqft

This single-level 900 square foot, end-unit condo offers the perfect blend of privacy and accessibility in a quiet, well-maintained neighborhood. A white picket-fenced front patio creates a welcoming entrance, while the fenced back patio provides a private retreat. Inside, the thoughtfully designed layout features a bright and functional living space with a seamless flow between the kitchen, dining, and living areas. The kitchen offers ample storage, bar counter seating, and plenty of counter space, making it ideal for everyday living and entertaining. Two well-sized bedrooms offer comfortable living, complemented by a conveniently located bathroom and the added convenience of in-unit laundry. Additional highlights include a 2 car garage for secure parking and extra storage, along with easy access to French Park, tennis and pickleball courts, grocery stores, restaurants, and public transportation. Whether you're seeking a peaceful retreat or a home base near the best of San Luis Obispo, this charming condo is a wonderful opportunity to enjoy both. Don't miss this opportunity where comfort, convenience, and charm come together in an ideal San Luis Obispo location.

Estimated
Seller's interest rate
5.74%
7%
Estimated
Principal & interest
$2,538/mo.
$2,680
You may also save up to $16,359 in total interest paid.

Financials

Seller’s estimated current equity is $SIGNI
To assume this mortgage you must cover the seller’s equity by using your cash or by combining your cash with gap financing.
Estimated $2,538 monthly payment

Financed
$SIGNIN
Location
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Loan details
Remaining term
9 yrs and 7 mos
Loan type
FHA
Rate
5.74%
Monthly P&I
$2,538
Remaining loan balance
$SIGNIN Sign in to view

Source: Public records

Home details
Size
900 sqft
Lot size
0.0207 acres
Year built
1985
Type
Condominium
HOA dues
$362.20

Source: CRMLS #SC25019137

Qualify

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.

Resources
Frequently asked questions

What is Roam?

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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?

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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?

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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?

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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?

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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.

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Last updated: Apr 07, 2025 05:19 am
Listing agent: Lindsey Harn
Listing provided courtesy of: Christie's International Real Estate Sereno (805) 476-0104
Details provided by CRMLS and may not match the public record.
MLS ID: #SC25019137
Based on information from California Regional Multiple Listing Service, Inc. as of Apr 07 2025 - 13:12 and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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