81968 Contento La Quinta, CA 92253
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About this home
HUGE PRICE REDUCTION...$50,000! As you walk through the secure locked gate of this Santa Barbara style home you'll enter a spacious courtyard with a beautiful table that sits 6. You will see that the home is an open floor plan. You then walk through the front door into the great room with sliding glass and French doors and see the pool. The private backyard with it's pool/spa, pergola, built-in BBQ, covered porch all on a large lot with fruit trees and lawns for relaxation in both sun and shade. This is what desert living is all about 365 days a year. The chef will enjoy preparing meals in the gourmet kitchen with a center island breakfast bar, plus a huge butler's pantry with many additional cabinets, counter space, wet bar and even a walk-in pantry. This is all part of the great room facing a fireplace with built-in cabinets on both sides. The luxurious master suite features dual vanities, a soaking tub plus a separate shower and large walk-in closet. The huge bonus room is plenty big for multiple beds, an office area and even an additional sofa all exiting out to the locked gated courtyard. We hope you come see this special place in The Estates of Carmela. OH! And don't miss stopping by the community park with its playground and possibly run into a neighbor for a friendly chat.
Source: CRMLS #219127787DA
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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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