412 N Mallagh St Nipomo, CA 93444
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About this home
Beautiful well kept home sits on a quiet dead end street. Enter to a private court yard with garden beds. There are 2 entrances to the home, home boasts over 2300 sqft of living space, and almost 1/3 of an acre plus alley access to the backyard. Build your ADU or garages. Formal living room with beautiful laminated flooring, remodeled kitchen with large breakfast bar, walk-in pantry and recessed lighting. 3 Bedrooms, 2 full baths, master is on the opposite side of the home. Enter into this huge family/dining/great room with tongue and groove vaulted ceiling, wet bar with brass foot rails, bar was original Jacko's Steak House. Lots of built-ins, and floor to ceiling dual pane windows that faces the sunny backyard with huge covered and uncovered patio, SM style brick BBQ for your enjoyment. Beautiful laminated flooring throughout the home, and dual pane windows, one of the bedrooms has bay window, overlooking the front of the home. Home has Central air condition and ceiling fans for those warm summer days, There's a work shop and storage room with 220V attached to the home, plus a 20x24 workshop with a10 ft roll up door, maybe converted to a garage. Side of home has a huge driveway, park your RV or more than 2 cars can fit. I am told that Nipomo has the best weather on the Central Coast. Close to all major shopping centers, restaurants etc. Home has so many possibilities, its a must see and move in ready.
Source: CRMLS #PI25132556
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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.
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