42846 Montello Dr Lake Hughes, CA 93532
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About this home
This is a short sale and subject to lender approval. Welcome to this beautifully upgraded single-story home in the peaceful Lake Elizabeth community, where privacy, comfort, and scenic views come together. Built in 2006, this property sits on an elevated lot with a long driveway, offering a sense of seclusion and tranquility. Inside, the open floor plan features 9-foot ceilings, wide-plank Pergo-XP® wood flooring, crown molding, 6-inch baseboards in the living room, and modern wainscoting in the dining area. A cozy pellet stove provides warmth in the winter, while the NEST home protection system adds modern convenience and allows for remote control directly from your phone. The gourmet kitchen is the centerpiece of the home, showcasing GE Slate appliances, an oversized island with state-of-the-art Dekton® countertops (scratch, heat, and stain-resistant), a subway tile backsplash, and an under-mount cast-iron Kohler sink with a chef's faucet. Recessed lighting and a designer light fixture over the island create an inviting atmosphere. The layout is thoughtfully designed for comfort and functionality, with the primary suite located on one side of the home and two additional bedrooms with a shared bath on the other. Outdoors, the private fenced backyard offers easy maintenance, while the front yard is highlighted by mature lilac trees. With a few touch-ups and repairs, this home is ready to shine for its next owner. Whether you're seeking a peaceful retreat with sweeping views or a stylish, updated space to entertain, this property offers the perfect balance of charm and modern upgrades.
Source: CRMLS #SR25226089
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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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