36626 Sevilla Way Beaumont, CA 92223
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About this home
Purchase this home with a downpayment assistance loan or ask me about assuming existing loan at 3% interest rate option. Spacious 5 bedroom 3 full bath 3 car Tandem garage home located in the gated community of Olivewood. This home built in 2020 features an open floor plan which joins the kitchen dining and family living area. A bedroom and full bath are conveniently located on the main floor. The kitchen features stainless steel appliances, a large island with bar seating, a walk in pantry and lots of cabinets. On the second floor you will find a large loft that can be used as a theater room, game room or second family room along with the main bedroom which features a dressing area, large walk in closet, linen cabinet, en-suite bathroom with separate dual vanity, bath tub and walk in shower. Three other bedrooms, a laundry room and a second full bath can be found on the second floor as well. This home sits on a premium lot with fully fenced back yard and concrete slab ready for new owner to add a patio. Artificial turf was installed in the front yard which provides a curb appeal and low maintenance care. Olivewood Community amenities include Clubhouse, swimming pools, splash pad, picnic areas, walk trails and more. PAID SOLAR included in the price.
Source: CRMLS #IV25215806
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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.