5885 El Cajon Blvd Unit 105 Unit 105 San Diego, CA 92115
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About this home
CHARMING Renovated 2 Bed / 2 Bath Condo in Prime College Area Location Discover this beautifully renovated, centrally located condo in a secure gated community just minutes from San Diego State University and a variety of shopping, dining, and entertainment options. Perfectly designed for comfort and privacy, this end-unit offers generous-sized bedrooms positioned on opposite ends of the unit, providing maximum privacy for residents and guests. A fully renovated second bathroom, recessed lighting throughout the living room and second bedroom, and in-unit laundry hook-ups for convenience. The spacious storage area and a large private patio—likely the largest in the complex—are ideal for entertaining or relaxing outdoors. Additional features include one covered parking space, with an option to purchase an extra parking spot through the HOA for a small fee. The complex boasts video surveillance for added security, making it a safe and peaceful place to call home. Just a 5-minute drive to SDSU, this condo offers walkability to stores, restaurants, and more. Don’t miss this fantastic opportunity to live in a beautifully updated home in a vibrant, centrally located community!
Source: CRMLS #SW25248098
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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.