28296 Oregon Pl Menifee, CA 92587
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About this home
This single story Menifee home offers 1050 square feet of living space with three bedrooms, one bathroom, and a single car garage, all situated on a spacious 9583 square foot lot. The backyard also features a detached workshop, perfect for projects, storage, or creative space. Inside, the spacious living room takes center stage, boasting a cozy brick fireplace and an abundance of natural light from the windows and access the backyard through the sliding glass door, perfect for indoor-outdoor living. To the left of the entry, a hallway leads to a wall of cabinets for extra storage, two bedrooms, each offering laminate flooring, ceiling fans, ample closet space with sleek sliding mirrored doors, and plenty of natural light through the windows. Also along the hallway is a full bathroom featuring a shower tub combo, single sink vanity, and tile flooring, as well as a convenient laundry room equipped with built-in cabinets for added storage and functionality. The bright and spacious kitchen showcases granite countertops, and stainless steel appliances including a 4 burner electric cooktop and oven, range hood, and dishwasher. Just beyond the kitchen, the master bedroom includes laminate flooring, a ceiling fan, Ample closet space with sleek sliding mirrored doors and a sliding glass door leading to the covered backyard patio. The backyard offers a spacious, blank canvas ready for your personal vision, complete with a covered patio for outdoor relaxation and a detached workshop, perfect for storage, hobbies, or DIY projects. This home is conveniently located near shopping centers, freeways, and highways, this home offers the perfect blend of comfort and accessibility.
Source: CRMLS #SW25126289
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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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