12410 Mimosa Ln Riverside, CA 92503
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About this home
Welcome to this exquisite 4 bedroom, 3 bathroom home Beautifully designed open living space, tucked inside the highly sought-after and exclusive gated community of Victoria Grove in Riverside. This home features a private casita or junior ADU with its own entrance, full bathroom, and kitchen perfect for multigenerational living, guests, mother in law or even rental income potential. SOLAR is 30x400w Panels (REC Alpha Pure Black Series) with Enphase IQ8 Microinverters. Make more energy in the year than we use so the energy bill is nothing. That’s with never worrying about using too much energy and charging an electric vehicle every day. Inside, you’ll also find a spacious upstairs loft ideal for a media room, home office, or playroom. Step outside into an entertainer’s dream backyard complete with a full outdoor kitchen area, hibachi style griddle top grill, fridge, cozy fire pit, expansive covered patio with misters, and ample seating areas, making it the perfect setup for hosting family gatherings, summer BBQs, or simply relaxing in your private oasis. Additional highlights include 8' RV parking, generous indoor living spaces, and a versatile floor plan designed for modern family living. Victoria Grove is one of Riverside’s most desirable communities, known for its security, scenic beauty, and unmatched amenities. Residents enjoy a swimming pool, spa/hot tub, picnic areas, playgrounds, biking trails, sports fields, basketball courts, and community recreation facilities, along with gated entry and 24-hour neighborhood security patrol. The home is walking distance to top-rated Lake Mathews Elementary School and just minutes from the best shopping, dining, and entertainment the area has to offer. Perfectly positioned near Lake Mathews, the California Citrus State Historic Park, and premier shopping at the Galleria at Tyler, this residence offers both convenience and lifestyle. With its expansive layout, private casita, entertainer’s backyard, and access to incredible community amenities, this turnkey property is move in ready and offers the ideal combination of comfort, convenience, and luxury. Don’t miss your opportunity to own this stunning home in one of Riverside’s most exclusive gated communities!
Source: CRMLS #SW25196481
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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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.