1617 261st St Harbor City, CA 90710
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About this home
Very nice spacious single family one Level home. Zoned R3. Build up to eleven condos or apartments verified by the city of Los Angeles Planning Division. Check with city to verify. However there is other condos close to this property similar in lot size. Buyer to do their own due diligence. The outside yard has several fruit trees, grape, guava and lime. Walking through the entrance find a spacious area for dining or office. To the left there is a nice bedroom and another bedroom suitable for the master bedroom. Just past the kitchen there is a a full bath and then a large family room with fire place and a nice walk in closet. Walking through the kitchen that is spacious with many cabinets find another full bathroom and two more bedrooms. Going outside through the kitchen find a large rear yard with a porch,a built in barbecue and To the right there is a large two car garage. Property needs some care.
Source: CRMLS #IV25217909
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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.
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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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