1388 N Lugo Ave San Bernardino, CA 92404
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About this home
Charming 1923 Vintage Home with Character and Modern Comforts. This beautifully maintained 2-bedrooms, 1-bath vintage home, offers a perfect blend of period details and thoughtful updates. The inviting curb appeal features year-round landscaping with mature plants and flowers, a warm welcome upon arrival. Inside pendant lighting highlights the office/desk set-up upon entry, before entering into a bright living room, bathed with sunlight from the large double-pane picture window and French doors that open to a quaint outdoor patio. A custom glass-framed wall with sliding door, uniquely separates the office area from the living room and sitting TV area, creating a versatile living space. The Kitchen offers upper open shelving, lower cabinetry, a vented hood over stove that blends vintage charm with functionality. Bath includes a vintage vanity, and faucet, including a tub-shower combo. Both bedrooms include new ceiling fans; the front bedroom features a custom barn-door closet, while the spacious second bedroom boasts a walk-in closet. Laundry is located on the service porch with access off the kitchen or directly from the backyard. The fully fenced 7,750 sq. ft. lot is dotted with fruit trees-including almond, pomegranate, and plum and includes a detached one-car garage with a tandem, and upper cabinets for lots of storage. This delightful home combines the character of 1920s architecture with thoughtful modern updates – a rare find for vintage-home enthusiasts. Conveniently located near freeways, shopping, parks.
Source: CRMLS #CV25242943
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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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