44632 Fern Ave Lancaster, CA 93534
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About this home
Clean and move-in ready 4 Bds 2 Baths, with new dual-panel windows, security cameras installed, and well-maintained front and back yards for immediate appeal. Includes microwave, ceiling fans, stove, and washer. Major systems already upgraded: newer sewer line, water heater, and roof. Original natural wood flooring under carpet adds future renovation value. Sitting on a large lot, the property offers plenty of rear parking ideal for RV access or multi unit development. Existing sewer layout supports additional construction. Interior features a larger-than-average kitchen with ample cabinets and breakfast area. Spacious bedrooms. Just blocks from the gentrifying Lancaster Blvd, the home comes with approved permits to build a 660 sq ft Junior ADU at the detached garage. Also, the lot has a room to develop an additional 3-unit structure. Perfect opportunity for investors seeking immediate cash flow and long-term development potential. All the heavy lifting is done just collect rents or build out your vision!
Source: CRMLS #SR25190544
Neighborhood
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Close stress-free in 45 days, handled start to finish by Roam.
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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.