5528 Elmwood Rd San Bernardino, CA 92404
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About this home
Motivated Seller! Major Price Reduction. Step inside this inviting 3-bedroom, 2-bathroom home where comfort meets character. The open floor plan offers a spacious living area that flows effortlessly into the dining space and kitchenideal for entertaining guests or relaxing with family. The kitchen really stands out with its lighta fun, unexpected touch that brings color and personality to the space. Along with its cheerful vibe, the kitchen also comes equipped with a stainless-steel refrigerator, adding both style and convenience. Inside, the home has a nice, open feel. The bedrooms are a comfortable size and get plenty of natural light throughout the day. Both bathrooms are clean and functional, with room to add your own style over time. The neutral color palette gives you a great starting point to make the space your own without feeling overwhelming. Enjoy significant savings on electricity with low monthly energy costs, thanks to the solar panels installed on the property. Just 10 minutes from San Bernardino International Airport, the home is ideally located near Seley Plaza, offering easy access to shopping, restaurants, and entertainment, including movie theaters. Local elementary and high schools are also nearby, making it a convenient option for families. This home offers a great combination of space, style, and locationperfect for anyone looking to settle into a welcoming community with a unique touch.
Source: SANDIEGO #CV25126717
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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.