16478 Spirit Rd Moreno Valley, CA 92555
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About this home
This property qualifies for a 2-1 interest rate buy-down. Contact listing agent for details. Stunning Family Retreat on Spirit Rd If you're seeking a spacious family home with all the trimmings in one of Moreno Valley's thriving communities, look no further than 16478 Spirit Rd. This elegant residence stands out, offering a blend of comfort, convenience, and community atmosphere. Featuring 5 bedrooms and 3 bathrooms across 2,605 sq ft, there's ample room for every family member to enjoy. Impressive Home Features Designed for both relaxation and entertainment, the open-plan living areas boast a gas fireplace, perfect for cozy evenings. The main-level guest suite provides privacy and comfort for visitors or extended family stays. With a reasonable HOA fee, enjoy access to facilities such as a community pool and clubhouse, enriching your everyday lifestyle without the maintenance hassles. The location benefits those with active lifestyles, with Pedrorena Park and Victoriano Park nearby, offering everything from playgrounds to sports fields. Nature enthusiasts will appreciate quick trips to Box Springs Mountain and Lake Perris for hiking and water sports. Vibrant Local Scene The Moreno Valley area features a vibrant culinary scene with local favorites like Portillo’s and BJ’s Restaurant & Brewhouse, providing dining options for every palate. Easily meet friends or enjoy a family meal at popular spots like Kalaveras Mexican Grill and Cornerstone BBQ. Convenient Connectivity Commuting is a breeze with close proximity to the Moreno Valley/March Field Metrolink station and major routes such as State Route 60 and Interstate 215, offering easy connections to Riverside, Los Angeles, and beyond. Education and Community Resources Families benefit from the excellent educational options provided by Val Verde Unified School District, known for its well-rounded programs and resources. Access to Moreno Valley College and numerous community libraries ensures continuing education and development opportunities. A Home with Future Potential Whether you're a first-time buyer looking for space to grow or a savvy move-up buyer recognizing the long-term potential, 16478 Spirit Rd offers a welcoming retreat with a future as bright as its present. Ready to make this dream home yours?
Source: CRMLS #PTP2505153
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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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