16455 Lake Knoll Pkwy Riverside, CA 92503
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About this home
Located in the Lake Hills Community on Lake Knoll Parkway is a rare property, being one of only seven lots offering full useable land. Home features a beautiful slate walkway leading to wrought iron and glass panel double doors. Built in 1988 with 4 bedrooms and 3 bathrooms (one bedroom and one bathroom are conveniently located on the main level). 2,627 sq. ft. of living space and situated on a 16,553 sq. ft. lot. Beautiful formal living room with a custom fireplace, separate family room also has a fireplace with custom oak cabinets. Formal and informal dining. Updated spacious kitchen featuring black pearl granite counter tops and backsplashes. Stainless steel appliances and freshly painted cabinets. A custom wood and wrought iron staircase leads upstairs where you will find a large bonus room with built-in cabinets and surround sound speakers. The primary bedroom has French doors leading to the balcony looking over the multi-tiered backyard with unobstructed views of city lights and mountains. Spacious primary bathroom has a large glass block wall walk-in shower featuring multiple shower heads and a separate soaking tub. There's also a custom dual sink vanity with granite counter top. Two additional bedrooms and a stunning bathroom with a glass walled walk in shower completes the upstairs. Rear yard has a beautiful pool and spa with a double fountain feature. Huge custom built 36' X 20' covered patio and balcony extends the outdoor living area. Covered patio has a built-in bar with Kegerator, BBQ and sink. Second level has a concrete patio area and horseshoe pit. Third level has a full sized volleyball court. Home has a completely new tile roof, recessed solar panels, all new fascia wood, new attic ducting & new attic insulation. Attached three car garage, gated RV access and ample space for cars, trailers, etc.
Source: CRMLS #IG25191071
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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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