1421 Maria Ave Spring Valley, CA 91977
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About this home
Welcome to 1421 Maria Ave., Spring Valley, CA 91977—VA assumable loan at 2.75% available on approved credit — a rare and valuable financing option! Home is designed for flexible multi-family living or rental income opportunities with separate entrances for both levels. This great investment is a remarkable 5 Bedroom, 4 Bathroom custom-built hillside estate offering breathtaking 270° panoramic views in the sought after neighborhood of Dictionary Hill that encompass Sweetwater Reservoir, Mount Miguel, the Pacific Ocean, and the Coronado Islands. Positioned atop a private, private driveway with scenic ascent that enhances both privacy and the spectacular view. This exceptional property caters to families, savvy investors, or multi-generational households seeking versatility, privacy, and an impressive scenery. The lower level comprises a 2BR/2BA unit, while the upper level presents a 3BR/2BA layout—ideal for long- or short-term rentals, or as a primary residence with additional income units, including potential use of the converted garage as an ADU or studio. The converted garage offers two versatile bonus rooms suitable for a home office, gym, storage, or further ADU conversion possibilities. The 3 decks—two of which are covered—provide seamless indoor-outdoor living and ample space for entertaining, all while enjoying sweeping views. Additional amenities include a whirlpool tub, tastefully tiled bathrooms, hardwood and luxury vinyl plank flooring, energy efficient 8 kw solar system and abundant dual-pane windows throughout, maximizing natural light and capturing the stunning vistas. Practical features such as under-deck storage for surfboards, kayaks, or tools, a dedicated laundry room with oversized utility sink, and an expansive driveway accommodating three or more vehicles offer enhanced convenience for residents and guests. Pet-friendly yard spaces surround the property, while central and portable AC and heating provide year-round comfort. Ideally located with convenient access to great schools (just 8.5 miles to SDSU), shopping centers, restaurants, entertainment venues, and major highways (CA-125, 54, 94), this home ensures an effortless commute and accessibility throughout San Diego. With no HOA or Mello-Roos fees, the property delivers outstanding value, combining comfort and convenience in an exceptional setting. VA assumable loan at 2.75% available on approved credit — a rare and valuable financing option! Do not miss the opportunity to make this stunning estate your new home. Schedule a private tour today to explore all the possibilities.
Source: CRMLS #PTP2506183
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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.