4216 Posey Pl San Diego, CA 92105
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About this home
Priced to sell!! Centrally Located Fairmount Entertainers Delight– Spacious 3-Bedroom Home with Outdoor Entertaining Area! This 3-bedroom, 2-bathroom home located in the heart of Fairmount Park—one of San Diego’s most conveniently situated neighborhoods, this property offers flexibility, functionality, and incredible potential. Step inside to discover a bright, open layout featuring recessed lighting, a well-appointed kitchen with solid wood cabinetry, and a versatile bonus room that can serve as an office, den, or optional fourth bedroom—ideal for remote work or guests. The owner has updated the plumbing, much of the drywall, some of the electrical, and added dual-pane windows, as well as new stucco. The expansive backyard is a true highlight, featuring a built-in outdoor fireplace and ample space for entertaining, relaxing, or creating your dream outdoor retreat. While the home could benefit from some TLC, it’s perfect for a DIY enthusiast or investor ready to unlock its full potential. Additional features include secure gated access, a 2-car garage, and plenty of additional parking—with space for an RV or boat. All of this just minutes from downtown, beaches, shopping, dining, and local parks.
Source: CRMLS #250034323SD
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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.