23884 Bowl Rd Crestline, CA 92325
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About this home
Discover an extraordinary opportunity to claim your own fully renovated mountain retreat, nestled within nature's embrace. This modern and captivating cabin, thoughtfully transformed into two distinct units, holds the promise of expansion, offering the possibility of a third. Each unit boasts brand-new kitchens, rejuvenated bathrooms, and bedrooms, while the deck has been meticulously renovated to invite moments of serene contemplation and or relaxation. Both the interior and exterior have been lavishly painted, elevating the property's appearance. Serving as a lucrative investment, this cabin can generates income effortlessly, fueled by the ever-growing demand for vacation rentals. Remarkably, its earnings could potentially sustain its mortgage obligations. The driveway, adorned with two parking spots! Moreover, envision the creation of another staircase, providing access to a potential third floor, enriching the property's versatility. Within, premium cabinets and countertops adorn the space, harmonizing with the allure of the fireplace and new flooring. Set upon a sprawling lot, this cabin melds the charm of yesteryears with contemporary comforts, epitomizing modern elegance. An unparalleled gem, it stands as a testament of modern elegance, a mere five-minute stroll from the tranquil shores of Lake Gregory, where the joys of fishing and boating await. Nestled within a secure street and neighborhood, adorned with other beautiful residences, it offers peace of mind and a sense of community. Embrace the opportunity to own this one-of-a-kind sanctuary, where the rhythms of nature intertwine seamlessly with the comforts of home.
Source: CRMLS #CV25162267
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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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