600 E Alexander Way Palm Springs, CA 92262
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About this home
Welcome to 600 E Alexander Way, a quintessential 1959 Mid-Century Modern gem located in the sought-after Racquet Club East neighborhood of Palm Springs. Designed by renowned architects Palmer & Krisel and built by the Alexander Construction Company, this architecturally significant home beautifully blends timeless design with high-end modern upgrades -- making it one of the most updated mid-century homes on the market today. Situated on a corner lot with the most amazing unobstructed mountain views, thoughtfully reimagined with over $175,000 in improvements, the home includes a fully warranted list of updates: new HVAC with air scrubber & surge protection, updated sewer line, windows, desert landscaping with irrigation system, roof, French drain system, mini-split A/C in the primary bedroom, insulation, security camera/alarm system, garage cabinets, epoxy flooring, 27 solar panels, dual security gates, updated pool & equipment, water purification system, and more. And yes -- all warranties are transferable to the new owner. As you step inside, you're immediately greeted by the charm of exposed tongue-and-groove wood ceilings, floor-to-ceiling windows, and an open floor plan designed for effortless indoor/outdoor living. The home features sleek custom cabinetry, a chef's kitchen with a dramatic waterfall island, and remodeled bathrooms with tiled walk-in showers. Step outside to your private desert oasis, complete with a new pool with tanning shelf and Pentair ultra temp electric pump, hot tub, and cantilevered sunscreens that provide shade while complementing the home's original design. All this with unobstructed San Jacinto Mountain views as your backdrop. Whether you're seeking a full-time residence, weekend escape, or high-end vacation rental, this property is ready to impress. No HOA. Fee simple -- you own the land
Source: CRMLS #219137029PS
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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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