702 Cornwell St Los Angeles, CA 90033
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About this home
Charming Boyle Heights Home with Modern Upgrades and Great Location. Welcome to this beautiful home in the heart of Boyle Heights, one of Los Angeles' most vibrant and historic neighborhoods. This inviting 3-bedroom, 2-bathroom residence combines classic character with modern comfort. Recent improvements include a newer roof, dual pane windows, new doors, laminate flooring, and a remodeled kitchen featuring granite counters and stainless steel appliances. Bonus/Den Room can be used as 4th bedroom or office. A spacious attic offers plenty of extra storage or potential creative use. Enjoy a nicely sized backyard, perfect for outdoor enjoyment. The home's prime location offers easy access to major freeways, USC Health Science Campus, and many of Boyle Heights' favorite local spots for dining, shopping, and culture. A wonderful opportunity to own a piece of Los Angeles with both charm and convenience.
Source: CRMLS #OC25238092
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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.