3112 Luna Ave San Diego, CA 92117
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About this home
Welcome to Bay Ho, nestled between the neighborhoods of Bay Park to the south and University City to the north, across the 5 from Pacific Beach and La Jolla. This move-in ready home features 3 bedrooms and 1 bathroom within 900 square feet, plus additional unpermitted space and is zoned multi-family residential, and one of only a few single-family homes on the block. The kitchen is updated to a modern style that includes granite countertops, a new quartz sink, and tile flooring. Additional storage is in attached pantry space. Upgrades include sustainable landscaping in the front yard, new bathroom vanity, new carpet, and fresh paint throughout the home. Other features are air conditioning & heating, crown molding, deep closets, and newer vinyl windows. An additional 12’ x 12’ bonus room offers a versatile space with plenty of natural light. The fenced backyard is ready to design your private retreat. Recreation access is minutes away, like the San Clemente Canyon Trailhead, Rose Canyon Bikeway, and Mission Bay with boat launches, sailboat rentals, bike & walking paths, basketball courts, and playgrounds. Walkable to Alcott Elementary School, which doubles as a dog park outside of school hours and during the summer. Shops and restaurants at Clairemont Town Square are minutes away, with neighborhood Sprouts and Costco stores down the street. Clear view of Mt Soledad and only blocks to the bus line. Reduce your commute as this property is conveniently located near 5, 52, and 805 freeways. Just minutes from surrounding beach communities, and downtown.
Source: CRMLS #250041111SD
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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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