3595 Santa Fe Ave Spc 291 Unit 291 Long Beach, CA 90810
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About this home
This is a manufactured-home property including the land (i.e., the home is affixed on a parcel of real estate owned by the borrower) — not simply a manufactured home without land. Because it is treated as real property (the home plus the land), financing options such as an FHA-insured mortgage are available. Unlike a home on leased land (or a standalone manufactured home treated as chattel), this package allows for the home to be financed as real estate rather than personal property. Situated within one of the city’s only gated communities where you own the land, step inside to a light-filled, open-concept layout designed for effortless living and entertaining. The kitchen comes fully equipped, and the vibe? Warm, welcoming, and ready for your personal touch. But what really sets this place apart is the community itself: Imagine living in a neighborhood with a twenty-four-hour guarded entrance, a resort-style pool & spa, tennis courts, clubhouse, fitness center, playgrounds, and even RV storage, all for a surprisingly low HOA. HOA IS FHA APPROVED! The best thing is manufactured SFR Type home with land. Whether you're looking for your first home, a smart investment, or a fresh start by the coast, this is one
Source: CRMLS #DW25199342
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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.