4005 Admirable Dr Rancho Palos Verdes, CA 90275
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About this home
Don't miss out on this gem along with the ability to assume the seller's low interest jumbo loan at 2.25%. Loan has a balance of $1,559,000 and only has 26 years left which is huge. The payment principle with interest is only $6606. Coastal living at its best… steps away from the California coastline with miles of dedicated hiking and walking trails. The stunning 4 bedroom, 4 bathroom remodeled home has 3,350 sq. ft. of living space. Enjoy ocean and Catalina views from the upstairs newly added master suite with attached entertainer's balcony and access to the rear yard. Enter through the dramatic double front doors into a wide foyer that is open to the living room and dining room. Be sure to look up to see the barrel ceiling in the foyer. The gourmet kitchen is an entertainer's delight with large island, stainless Forno industrial range and built-in oversized LG refrigerator/freezer. Don't miss the extensive storage and dramatic finishes. 3 Bedrooms, including a second master suite, are located on the first floor. When you enter the generously sized master suite upstairs, you will enjoy sweeping views up and down the coast and Catalina Island from the double French doors and private balcony. The spa inspired master bathroom with jacuzzi tub and separate travertine shower and sky light has direct access to an outdoor, west-facing cantina and party deck with amazing coastline views. Additional features include freshly painted interior and exterior, refinished hardwood floors, new carpeting thru-out, new front doors, new Pelican water softener, new garage door, freshly landscaped rear grounds. Downstairs you can enjoy indoor/outdoor living with a huge flat, beautiful yard, flagstone patio and an outdoor shower perfect for when you get back from the beach. Walk to The Trump Golf Course with miles of hiking trails and beautiful ocean vistas. Residents have access to the top-ranked Palos Verdes Schools such as Mira Catalina Elementary, Miraleste Intermediate, and your choice from two of the top ranked high schools in California. Minutes away, you can enjoy a game of golf or dine at Terranea Resort. Or take a stroll through one of the many hiking trails, either way you are surrounded by the best of California coastal living. NOTE: This home is NOT in the historical or current land movement area, and there has never been recorded land movement on this side of Sea View. Geological reports of the area are readily available online or through the listing agent.
Source: CRMLS #PV25149395
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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.