29503 Cara Way Temecula, CA 92591
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About this home
Don’t miss the deal of a lifetime! Qualified VA Home Loan buyers can assume an incredible 2.5% VA loan on this quiet and centrally-located 2 bedrooms, 2.5 bath gated community condo. Take advantage of this amazing deal before it’s gone! This modern and updated home boasts a new high-efficiency indoor and outdoor HVAC (both AC and furnace) system, installed in 2025. The entire community is undergoing installation of new roofs! The all-stainless steel chef’s kitchen is anchored by a new (2023) 5-burner gas oven, perfect for a professional baker or home cook. Each bedroom is amply sized, with the master bedroom able to accommodate a king bed plus furnishings. The master bathroom has also been converted to a two-person shower and finished in luxurious Carrera marble-look subway tile. This sunny home also has several eco-friendly updates like dual-flush toilets in all the bathrooms, water-wise shower heads, and a whole-home smart thermostat system, which is easily managed at home or while away through the app. The entire home is covered in wide plank Nordic ash wood tone luxury tile composite flooring that NEVER swells when it comes in contact with water- perfect for pet owners or parents! Fresh paint, modern finishes, luxury large format floor tile, a 2-car garage, a gated patio, and ample skylights round out this home’s offerings. All appliances are included. This home is centrally located within walking distance of four Temecula Valley Unified schools, the Promenade Mall, Olive Garden, Panera Bread, and numerous local shops, salons, movie theaters, and restaurants. The HOA provides resort-style amenities: a sparkling year-round pool and spa, tennis courts, a well-equipped gym, and a rentable large Clubhouse for private events. Rancho Del Mar is a family-friendly community where children can freely play outside, and adults catch up with each other over their fences. With a low tax rate, reasonable HOA dues, and a quiet, family-oriented community, schedule your showing today before your chance to own this little slice of heaven is gone.
Source: CRMLS #IV25221429
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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.