7420 London Ave Rancho Cucamonga, CA 91730
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About this home
Rare Opportunity in Rancho Cucamonga! None Contingent and ready for a quick Escrow!! For the first time in 51 years, this charming single-story home is on the market! Built in 1974, this well-maintained 3-bedroom, 2-bathroom residence offers timeless appeal and a comfortable layout in a highly desirable Rancho Cucamonga neighborhood. Located on a secluded street with no through access, the home offers a peaceful setting with added privacy, perfect as your next home. Inside, you’ll find an inviting floor plan featuring a spacious den with a cozy fireplace and room for multiple seating arrangements. Over the years, the home has undergone thoughtful updates to its flooring, plumbing, and various systems, providing both modern comfort and peace of mind. The den flows seamlessly into a quaint dining area with direct access to a kitchen outfitted with rich oak cabinets and upgraded countertops. Each bedroom offers generous closet space, with the primary suite featuring dual closets and a private en-suite bathroom. A large bonus room provides flexible space for entertaining, working from home, a playroom, or anything you envision it’s a true blank slate ready for your personal touch. Step outside to a nicely sized backyard featuring mature trees, lush grass, and well-maintained landscaping, ideal for outdoor relaxation or gatherings. The home also offers a finished concrete driveway and convenient RV parking along the side. Solar panels are installed to help reduce electricity costs during peak summer months. Don’t miss out on this rare chance to own a single-story home in Rancho Cucamonga. This one is a must-see!
Source: CRMLS #CV25154195
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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.