35142 Sorrel Ln Lake Elsinore, CA 92532
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About this home
Welcome home to this spacious single-story gem located in the highly sought-after Cottonwood Canyon Hills community! This beautifully maintained 1,760 sq ft home sits on a spacious 6,534 sq ft lot and offers 4 bedrooms, 2 bathrooms, and a 2-car garage—perfect for modern living! As you step through the front door, you’re welcomed into a warm and inviting foyer that sets the tone for the rest of the home. Just beyond, you’ll find yourself in the heart of the home—the kitchen—where an open layout, abundant cabinetry, sleek countertops, and ample natural light make it perfect for both daily meals and entertaining. The kitchen flows effortlessly into the living and dining areas, creating an open-concept space ideal for gathering with friends and family. Each of the four bedrooms is generously sized, with the primary suite offering a private retreat featuring an en-suite bath and walk-in closet. Outside, enjoy a backyard with plenty of room to relax, play, or personalize to your liking. Nestled within the vibrant Cottonwood Canyon Hills community, this home comes with access to top-notch amenities including 3 sparkling pools, a clubhouse, multiple parks, basketball courts, and scenic walking trails. And with grocery stores and schools less than 2 miles away, everything you need is right around the corner. This one won’t last—schedule your private tour today and make it yours!
Source: CRMLS #SW25244448
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.