36202 Rancho Aldea Cathedral City, CA 92234
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About this home
Location, Location...and this home comes with an *ASSUMABLE VA LOAN* current loan is at 2.375%. Nestled in a small gated community of Aldea Vistas located on the Cathedral City and Rancho Mirage border (@Gerald Ford & Da Vall Dr.) 3 Bedrooms, 3 Baths & a flex room currently configured as a Den with built-ins. Home Features 10 Ft. ceilings throughout & Solar Tubes bring in extra light. Freshly Painted Inside & New Carpet in Bedrooms. Formal Living Room & Family Room with built-ins. Open plan kitchen with island & lots of storage. Primary Suite has Walk-In Closet with built-ins, Remodeled Shower & Dual Sinks in Bath. Individual Laundry Room w/cabinetry & sink. Direct Access to Double Car attached *Garage with AC* 8 Panel owned Solar system. Established landscaping with mist system, a Spool & Waterfall. Community has walking path and greenbelt area for socializing and/or dog walking. You Own The Land. Perfect Mid-Valley location, close to Shopping & Golf. 15 minutes to PS Airport and 15 minutes to famous El Paseo Shopping area. 1/2 mile from Palm Valley School. Low HOA Dues. Don't miss out on this opportunity. Priced to sell, hurry this one won't last!
Source: CRMLS #219133973DA
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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.