14359 Sinclair Cir Magalia, CA 95954
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About this home
PRICE REDUCED ON this Charming HUD Home in the Pines! Nestled in the peaceful foothills of Magalia, this lovely 3-bedroom, 2-bath home offers the perfect blend of rustic charm and modern comfort. Featuring vaulted wood ceilings and a cozy woodstove, the living space exudes a warm, cabin-like feel. The functional layout includes a spacious living area, a walk-in shower in one bath, and a tub/shower combo in the other. Enjoy the convenience of a separate laundry area, an attached single-car garage, and a fully fenced backyard — ideal for pets, gardening, or relaxing under the pines. Step out onto the large back deck, perfect for entertaining or simply enjoying the crisp mountain air. This all-electric home is located in the affordable Paradise Pines HOA (only $315/year), which offers wonderful amenities including a clubhouse, pool, bar, and community activities — just down the street! Located close to abundant outdoor recreation including Lake Oroville, Paradise Lake, Lime Saddle Marina, and opportunities for fishing, boating, hiking, and hunting, this home is a great base for mountain living or weekend getaways. All information per appraiser or public records; buyers to verify.
Source: CRMLS #SN25159909
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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.