1501 Oriole Rd Wrightwood, CA 92397
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About this home
Pride of ownership historical Wrightwood home! Built in 1936, this home has stood the test of time and offers many details that newer homes cannot. Walking up to the front door, you will feel a sense of calm and serenity in the treehouse like vibes. The oversize oak front door welcomes you inside, into the large open area on the first floor. Original hardwood oak floors, woodwork, vaulted ceiling and fireplace are some of the features that offer vintage charm. The kitchen has an efficient work flow and modern day appliances fit into the spaces. Dining area is open to the living room with cozy fireplace AND house warming wood stove. One of the bedrooms has direct access with it's own side door, as seen in the photos. The lot features a good amount of parking and usage. If you were to be in need of RV parking, you could do that here with minimal work. There are three yard areas, and parking is easy. There is a shed for storage, and a carport. Located a short distance from the Country Club, post office, the Village trail etc. This home would be ideal for year round living or have it as a income generating rental.
Source: CRMLS #TR25125246
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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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