2548 Katherine Ct El Cajon, CA 92020
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About this home
2 HOMES IN ONE!! Nestled at the end of a peaceful cul-de-sac on the outer part of San Carlos, this one-of-a-kind property offers an incredible opportunity for multi-generational living, rental income, or flexible dual living. Truly two homes for the price of one — plus the potential for an ASSUMABLE VA LOAN! The main upper level features a beautifully updated 3-bedroom, 2-bathroom layout with a stunning chef’s kitchen showcasing stainless steel appliances, a massive 9-foot island, and ample cabinetry. The open-concept living space is filled with natural light and leads to a private balcony with serene views. The primary bedroom is spacious enough to comfortably fit an Alaskan king-sized bed, creating the perfect retreat. For added convenience, there’s a dedicated laundry area upstairs as well. Downstairs, you’ll find a completely separate 2-bedroom, 1-bathroom unit with its own full kitchen, living area, and private entrance. Whether you're looking to accommodate extended family, host long-term guests, or generate extra rental income, this lower unit is a game-changer. The two levels can be fully closed off for privacy or opened up for connected multi-family living — the choice is yours! This unit has its own washer and dryer as well. Situated on a generously sized lot, the property also offers ample parking, a peaceful backyard, and is located just minutes from top-rated schools, shopping, dining, and freeway access. Plenty of solar helps keep this home energy efficient year-round, making it as smart as it is versatile. Don't miss your chance to own this versatile and valuable gem, schedule your tour today!
Source: CRMLS #PTP2508046
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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.