909 Richland Rd Spc 49 # 49, San Marcos, CA 92069
3 beds · 2 baths · 1,704 sqft
Located in a desirable 55+ community, this ground-set home offers comfort and convenience with no space rent and a low $319 monthly HOA. Inside, the remodeled kitchen features quartzite countertops, 42” cabinets, two large pantries with pullout shelves, and premium appliances. The spacious master suite includes a walk-in closet, sliding door to a covered patio, and an en-suite bath with a walk-in shower and linen pantry. A bright sunroom with cabinetry, a sink, dishwasher, and space for a second refrigerator creates the perfect setup for entertaining by the firepit on the brick patio. Recent upgrades include new kitchen flooring, paint, and carpets, along with a 50-year roof installed just four years ago with a transferable warranty. The home also features a gas fireplace, a new patio cover with a fan and lights, a large wired shed plus a portable shed, and a 50-amp transfer switch for a backup generator connection. The carport accommodates three vehicles with added privacy louvers, while the low-maintenance yard includes a custom brick patio and raised garden bed. All appliances, including the washer and gas dryer, are included. Residents enjoy access to a clubhouse, pool and spa, private park, tennis and pickleball courts, a gym, billiards, a card room, a library, shuffleboard, and a banquet room with a kitchen. The community also offers covered RV parking for an additional fee, based on availability. The HOA covers trash and sewer, plus COX cable with over 300 channels, including HBO, and community solar provides a monthly utility rebate.
Source: CRMLS #PTP2501556
Financials
Source: Public records
Source: CRMLS #PTP2501556
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.