186 S Massachusetts St Lake Elsinore, CA 92530
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About this home
Update on Oct, 2025 - Brand New Water Heater & AC System Installed! Welcome to this charming spacious 4-bedroom, 3 full bath Olympic Size POOL & SOLAR (PAID OFF) Home nestled in the highly sought-after city of Lake Elsinore, known for its top-rated schools and safe, family-friendly neighborhoods, making it perfect for families of all sizes. Strategically designed 1 bedroom, 1 full bathroom with double doors on the first floor, perfect for guests or a home office. The ample sized primary suite provides views of the lush backyard, Mountain surrounded by the Lake. The open floor plan boasts vaulted ceilings throughout the living and dining area. The spacious family room, complete with fireplace, flows seamlessly into a generously sized area, ideal for family gatherings. When you walk through the sliding glass door from the family room, you are greeted by a covered patio structure with ceiling fan, a sparkling pool, BBQ area with sink to entertain large crowd on the weekends and to enjoy pool party on summer days with outdoor misting system to cool the entire patio area. Enjoy breathtaking view of the Mountain from the Front and Back of the home. Some Fruit Trees in the backyard and front yard of the Home. New Homeowner can color match the existing paint or be creative to their preferred color and update some areas of the flooring to their preferred style. Low Property Tax, NO MELLO ROOS & NO HOA! 28 Panels SOLAR that is PAID OFF! Excellent choice for Electric Vehicle Owners. New Energy saver variable speed Pool Pump, New Gas Furnace Heating system. A whole house fan to cool the entire home and ceiling fans throughout the home. Attached double car garage has 240v Fast Charging option, EV Plug-in-Ready Outlet to charge all current Electric Cars on the market. A wonderful opportunity for first-time buyers. Don’t miss the opportunity to make this charming residence your forever home!
Source: CRMLS #RS25133010
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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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.