29870 Boathouse Cv Menifee, CA 92585
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About this home
Luxury living at its finest is found in this beautiful 5 bedroom, 3 bathroom home in the highly desired community of Heritage Lakes. When you enter the front doors you will be impressed by how the neutral colors and open layout contribute to the calming flow. One bedroom and a full bathroom downstairs are tucked away to allow privacy for guests. The upgraded kitchen and family room provide a large entertaining space. A separate formal dining room and butler's pantry make holiday dinners a breeze. The downstairs bonus space gives you so many options. Should it be a den, office, or library? You are only limited by your imagination. Upstairs you will find 4 additional generously sized bedrooms as well as the laundry room for your convenience. The large primary bedroom has an en-suite bathroom and a huge closet. Low maintenance landscape in the front and turf in the backyard means your time outside is spent relaxing or enjoying activities with family or friends underneath the covered patio with fan. The 3 car tandem garage is an added bonus. The unbelievable amenities in Heritage Lakes includes multiple parks, walking trails, a lake, and a great community center. With all this home has to offer, don't miss the opportunity to make this gem yours!
Source: CRMLS #SW25252066
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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.