25827 Balsam Fir Cir Menifee, CA 92585
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About this home
Welcome to your single story Menifee oasis on a quiet cul-de-sac. This beautifully updated 5 bedroom home (note: the large 5th bedroom does not have a closet) offers exceptional indoor- outdoor living with a sparkling private pool, a versatile detached casita, and an inviting open layout filled with abundant natural light. Step inside to brand new baseboards and newly installed LVP flooring that establish a clean, modern aesthetic throughout. The spacious kitchen and living areas flow seamlessly, ideal for both everyday living and effortless entertaining. The separate casita enhances flexibility and is perfect for guests, a home office, multigenerational living, or income producing potential. Enjoy long-term savings and comfort with 29 OWNED SOLAR PANELS and a NEW HVAC unit installed in 2023. Outdoors, the backyard is designed for relaxation, featuring a private pool, covered patio, fire pit, garden beds with drip system, mature lemon and lime trees, and a productive blackberry bush all with no rear neighbors for added privacy and tranquility. The location is equally impressive: hiking trails are within walking distance, everyday conveniences and major stores are close by, and the neighborhood enjoys low traffic flow thanks to its tucked-away positioning. Additional highlights include a three car garage for added space and storage, low HOA dues and taxes, and a community park just steps away. This home checks all the boxes: modern updates, energy efficiency, flexible living spaces, privacy, and a truly inviting atmosphere from the moment you arrive.
Source: CRMLS #SW25256188
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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.