32921 Middlegate Pl Lake Elsinore, CA 92530
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About this home
Welcome to your stunning modern home in the highly desirable West Lake community of Lake Elsinore. Enjoy the benefits of a low HOA in this 2020 built residence featuring stylish upgrades throughout. Step inside to find beautifully upgraded bathrooms and a spacious open concept kitchen complete with custom countertops and backsplash, upgraded stainless steel appliances, an overhead microwave, large pantry, and an island offering abundant storage and prep space. The open floor plan flows seamlessly into a large patio with an awning, perfect for entertaining or relaxing outdoors. The main level also includes a room currently used as an office that can easily function as a bedroom. Additional highlights include dual pane vinyl windows with shutters, a QuietCool whole house fan, smart thermostat, tankless water heater, ceiling fans throughout, and a Tesla charging station for added convenience. Upstairs, you will find a luxurious primary suite with a walk-in closet and ensuite bath featuring dual sinks, a soaking tub, and a separate shower. A spacious loft offers an additional living area, home office, or playroom. This home perfectly blends modern comfort, energy efficiency, and thoughtful design. Move in ready and beautifully maintained, it is ready for you to make it your own.
Source: SANDIEGO #IG25245026
Loan details
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Close stress-free in 45 days, handled start to finish by Roam.
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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.