4808 Graywood Ave Long Beach, CA 90808
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About this home
Here's a fantastic opportunity in the lovely Lakewood Village area of Long Beach that offers a picturesque single family on a generously-sized lot. Stepping through the front door, the home's first impression is an enchanting living room with wainscoting, crown moldings, and a built-in bookcase. It's a room that envelopes you in its warmth, providing a serene space to drink a morning cup of joe or curl up on a sofa to read a good book or enjoy the company of friends. Just off the living room are three charming bedrooms and a full bathroom on one side, and the kitchen on the other. The kitchen boasts stainless steel appliances, granite counters, and ample cabinetry. But that's not all. There is a spacious family room with brick fireplace that just screams for a big screen TV, comfy sectional, and offers the perfect setting for some serious binge-worthy TV. Step through the sliding glass door to a large, covered patio that overlooks the professionally landscaped backyard. And not to bury the lead, but let's talk about the endless potential of the 4-car detached garage. Imagine all the things you could do with this space: ADU, workshop, home office, game room, "mancave", "she-shed"... oh and yeah park four cars. Located on a pretty street, this home is nestled in this charming neighborhood and yet is just down the street from Home Depot and Costco. Mic drop.
Source: CRMLS #SB25244766
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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.