4454 Cogswell Rd El Monte, CA 91732
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About this home
Tucked behind a mature privacy hedge and fully gated for added security, this charming property features a spacious four-bedroom main home along with a legal two-bedroom ADU—an ideal setup for multi-generational living or rental income. The main residence offers a warm and inviting living room with hardwood floors and a cozy fireplace, leading to a generous eat-in kitchen complete with stainless steel refrigerator and dishwasher, pantry, and a conveniently located laundry area. The home is thoughtfully laid out with four bedrooms and two bathrooms: two bedrooms and a ¾ bath on one side, and two additional bedrooms with a full bath on the other. The permitted ADU includes its own well-appointed kitchen with stainless steel appliances and dining area, two bedrooms, two bathrooms, and access to its own separate washer/dryer. Additional features include a spacious outdoor area, gated driveway, and a garage currently being used as a living room. Energy-efficient upgrades include leased solar at just $109/month, a newer roof, updated sub-panel, and a 50-gallon water heater replaced approximately three years ago. Both units are equipped with insulated shared walls, mini-split systems, ceiling fans, and PEX plumbing. Located close to major retailers like Home Depot and Walmart, Kaiser Permanente, and offering easy access to the 605, 60, and 10 freeways, this property combines comfort, convenience, and versatility.
Source: CRMLS #PF25174989
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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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