8219 New York Dr Stockton, CA 95210
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About this home
Enjoy living in this 2-bedroom, 2-bath, single level, 1318-sqft home in a quiet 55+ community. Located close to businesses, shops, restaurants, parks, and even medical facilities, this home has a large, natural-lit living room with a wood burning fireplace for those cold winter nights, and a deck in the back yard to soak up the sun rays during the summer. Additionally, you can take advantage of the community recreational area and have a BBQ with friends and family, then relax in the hot tub or cool off in the pool during the hot summer days. Besides the living room, the house features 2 spacious bedrooms, each one with its own sizable closet and bathroom, a modern kitchen with a dining area and plenty of cabinet space. All appliances are included at no cost to the buyer. An additional room that leads to the covered back deck area can be used as an office, to do yoga or as an arts and crafts room to enjoy quality time with the grandkids. The low maintenance front yard will not be a challenge, and the enormous backyard can hold multiple fruit trees, or it can be landscaped to meet your vision. There is a working table and plenty of storage room in the 2-car garage. Only a few miles from the marina this is the perfect retirement home.
Source: CRMLS #41096421
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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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