15935 Spring Oaks Rd Spc 1 Unit 1 El Cajon, CA 92021
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About this home
Market time reflects title issue that is now CLEAR! Ready for quick closing. Welcome to this charming Woodcreek Estates (all ages park) 3-bedroom, 2-bathroom home located on a corner lot with a permanent foundation. All under vaulted ceilings, enjoy hard surface flooring in the living spaces and primary bedroom and plush carpet in the auxiliary bedrooms, a thoughtfully redesigned kitchen including ample cabinetry, beautiful granite countertops, stainless steel appliances with a double oven and corner breakfast nook. A walk-in pantry was added for additional storage. The spacious dining and living room combo bask in natural light. Both bathrooms have been remodeled with tasteful fixtures. Additional features include an interior laundry room, enlarged (by 4 feet) garage with storage cabinets, shelving and direct access to the home plus a 3-year new HVAC system + energy efficient ducting. The spacious backyard is fully fenced and features a large aluminum patio cover with fan/light to enjoy meals al fresco. The park features ample guest parking, a community room with remodeled kitchen and separate billiard room, pool, spa, gym and RV/Boat storage (extra nominal fee). All appliances, televisions, and tv mounts convey.
Source: SANDIEGO #250023083
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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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