1110 Festival Rd San Marcos, CA 92078
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About this home
Large price improvement, great value and opportunity! Desirable Terraza Home in San Elijo Hills. Gorgeous curb appeal, beautifully upgraded and eco-conscious with owned solar, this spacious residence offers 3 bedrooms plus a dedicated office area and 2.5 bathrooms, 3 car garage - built in 2010 and boasting 2,182 Est. SqFt. The gourmet kitchen features granite countertops, stainless steel appliances, and a center island opening to an inviting family room with fireplace - perfect for everyday living and entertaining. The dining and living room combination showcases elegant tile flooring and custom built-in cabinetry. Upstairs, enjoy laminate wood flooring throughout, including the office/desk area, with tile in the bathrooms and laundry room. The expansive primary suite includes walk-in closet and a tranquil bath with soaking tub, dual sinks and walk-in shower. Custom built-in cabinetry is thoughtfully integrated throughout the home. Additional highlights include ceiling fans, air conditioning, tankless water heater and fully paid solar system for energy efficiency. Set on a private, pool-sized lot, the outdoor space features a large patio, spacious lawn, raised play area, mature landscaping and several fruit trees - ideal for entertaining, relaxing and play. The tandem 3-car garage includes overhead storage racks for added utility. Washer/Dryer/Fridge and Solar System are included. LOW MELLO ROOS and HOA! Located within the boundaries of the highly desirable Double Peak School. The San Elijo Hills community features: - Top-rated schools - Ball parks & soccer field - Picnic areas & playgrounds - Dog park & community center - Town center with stores and shops, restaurants and eateries, 18 miles of scenic trails & a 19-acre park - Over 1,000 acres of open space. Enjoy the Southern California Coastal lifestyle, a short drive to the beaches and everything San Diego County has to offer. Seller to select services. Mello-Roos fees are estimated. All MLS and marketing information is approximate and not guaranteed.
Source: SANDIEGO #NDP2507061
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FAQs
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.
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.
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.
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.
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.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
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