29360 Coral Island Ct Menifee, CA 92585
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About this home
Back on the market at no fault to Seller! Welcome to this stunning two-story home in the highly desirable Heritage Lake community. Built in 2008, this residence offers 2,184 square feet of beautifully designed living space with 3 spacious bedrooms, a loft and 2.5 bathrooms. Step inside to a bright and inviting floor plan featuring a formal living and dining area, a convenient powder room, and a large laundry room. The heart of the home is the expansive kitchen that opens to the family room with a cozy fireplace. The kitchen is a chefs dream with stainless steel appliances, granite countertops, a generous pantry, and sliding glass doors that lead to the backyard. Outside, enjoy California living at its finest under the Alumawood patio cover complete with fan and lighting, perfect for entertaining. Upstairs, the luxurious primary suite offers a private retreat with dual walk-in closets and an en-suite bathroom featuring dual sinks, a soaking tub, a glass-enclosed shower, and a private water closet. This home also includes a Tesla electric charger and a Rain Bird sprinkler system, adding both convenience and efficiency. Heritage Lake is a master-planned community offering exceptional amenities including two junior Olympic-size pools, a splash park, wading pool, three playgrounds, a 25-acre lake with paddleboats, and catch-and-release fishing. Residents also enjoy convenient access to the I-215 and I-15 freeways, schools, parks, shopping, dining, and entertainment. Discover the perfect blend of comfort, style, and community living in one of Southern Californias fastest-growing cities. This spectacular Heritage Lake home is ready to welcome its next owner.
Source: SANDIEGO #SW25194729
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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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