Laura Jewett

Laura Jewett

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Pending

$680,000

($318,543 down)
FHA

34318 Otay Way, Lake Elsinore, CA 92532

5
3
3,088 sqft
PITI Monthly
$3,253.11 /mo

Listing courtesy of: Tiffany Williams, Williams Realty Group, Inc.

Assumed Rate

4.47%
7.15%

Principal & Interest

$2,086 /mo
$2,790 /mo

What's Special

SERENE
DINING
SPACIOUS
LUXURY
FIREPLACE
WALK-IN CLOSET
SOAKING TUB
PATIO
TENNIS COURTS
COZY

Welcome to 34318 Otay Way in the highly desirable Canyon Hills Neighborhood. This impressive 3088 sq ft. features 5 bedrooms and 3 bathrooms, a downstairs bedroom and bath, 3 car garage and so much more. As you step through the front door, the grandeur of Cathedral Ceilings captures your attention, creating an atmosphere of openness and sophistication. Natural light floods the space through large windows, accentuating the elegance of the formal living room, complete with a private fireplace, ideal for cozy gatherings or quiet moments of reflection. Next, French doors beckon you towards a private side patio, a serene retreat perfect for enjoying summer days in peace and tranquility. The journey continues down the hall, to your separate dining room, leading into an open-concept kitchen and family room, featuring a second fireplace. The kitchen is a chef's dream, with ample cabinets that set the stage for culinary delights and shared moments with loved ones. Step into the backyard oasis, adorned with beautiful hardscape, several water features, just perfect for entertaining guests under the backyard pagodas, creating memories in this enchanting outdoor space. The first level also accommodates a generously-sized bedroom, versatile enough to serve as a guest room or a den/office, accompanied by a spacious three-quarter bathroom. The 3-car garage offers additional space for storage or the creation of a personalized retreat. Ascend the grand staircase to discover the extra-large Primary Bedroom, with an en-suite bathroom boasting a large walk-in closet, dual vanity, private shower, and a separate soaking tub. An additional room on the upper level, spacious enough to be a second Primary Room, a 6th bedroom, a movie room, sports room, or loft, offers versatility to suit your lifestyle. Continuing down the hall, you'll find three more spacious bedrooms accompanied by a full bathroom, ensuring comfort and convenience for all residents. Canyon Hills, the prestigious community hosting this residence, boasts three expansive pools, parks, dog parks, splash pads, tennis courts, and an 18-acre sports park in the heart of it all. With Blue Ribbon Elementary and Middle Schools conveniently located in the neighborhood, seize the opportunity to make 34318 Otay Way your home – where luxury, comfort, and community converge in perfect harmony.

... Show more

Assumption Snapshot

Type of Loan
FHA
Interest Rate
4.47
Remaining Loan Term
23 years, 2 months
Monthly PITI
$3,253.11/mo
Estimated Loan Balance
$437,473
Cash to close
$318,543
Interest Paid
$118,677

Facts & Features

Interior

Bedrooms & Bathrooms
  • Bedrooms: 5
  • Bathrooms: 3
Cooling & Heating
  • Cooling: CentralAir
  • Heating: Central
Features
  • Materials: Unknown
  • Community: Unknown
  • Has Fireplace: Yes
  • Fireplace Features: FamilyRoom, LivingRoom
  • Flooring: Carpet, Tile

Exterior

Fencing
  • Fencing: Wood
Roof
  • Roof: Tile
Parking
  • Garage: Yes
  • Garage Spaces: 3
  • Carport: No
  • Carport Spaces:
Water
  • Sewer: PublicSewer
  • Water Source: Public
Pool
  • Has Pool: No
  • Pool Features: Community, Association

Construction

Type & Style
  • Stories: 2
  • Home type: SingleFamilyResidence
  • Architectural Style: Craftsman
Materials
  • Unknown
  • Roof: Tile
Condition
  • Year Built: 2007
Details
  • Builder:

Community & HOA

Community
  • Subdivision:
  • Features: Biking, Curbs, DogPark, Foothills, Gutters, Hiking, Park, StormDrains, StreetLights, Suburban, Sidewalks, Pool
HOA
  • Has HOA: Yes
  • HOA Name: Cottonwood Canyon Hills
  • HOA Amenities: Unknown
  • HOA Fee: $134
  • HOA Frequency: $Monthly
Location
  • Region: Lake Elsinore

Financial Details

  • Price per Sqft: $220.21
  • Tax Annual Amount: $8500
  • On Market Date: 2025-03-10T00:00:00.000Z
Inquire about this property

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Apply to Assume

Fill out an application to explore financing options for assuming this loan.

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Savings Calculator

Current cash to close is $318,543 (47%)
You can enter any amount below - secondary financing will cover the difference if needed.
47%
$

You cover the entire equity of $318,543!

Enter a smaller amount if you prefer to use secondary financing.

Loan Breakdown

Assumed Mortgage4.47% Sellers Rate
$361,457
Your Cash$318,543
Total Purchase Price:$680,000

Assumed vs Traditional Mortgage

Assumed @ 4.47%
$2,086/mo
Traditional @ 7.5%
$2,894/mo
You save $808/month ($9,699/year)

*Secondary financing rates are an estimated value based on input

MLS ID: SW25050646

Listing From:

Last updated: 2025-03-22T04:03:47.000Z

© , CRMLS. All rights reserved. Information deemed to be reliable but not guaranteed. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items. IDX information is provided exclusively for consumers’ personal, non-commercial use and that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed to be accurate. Listing information updated daily.

Assumed Rate

4.47%
7.15%

Principal & Interest

$2,086 /mo
$2,790 /mo
Inquire about this property

We will reach out to you with more details

Apply to Assume

Fill out an application to explore financing options for assuming this loan.

Apply now

Savings Calculator

Current cash to close is $318,543 (47%)
You can enter any amount below - secondary financing will cover the difference if needed.
47%
$

You cover the entire equity of $318,543!

Enter a smaller amount if you prefer to use secondary financing.

Loan Breakdown

Assumed Mortgage4.47% Sellers Rate
$361,457
Your Cash$318,543
Total Purchase Price:$680,000

Assumed vs Traditional Mortgage

Assumed @ 4.47%
$2,086/mo
Traditional @ 7.5%
$2,894/mo
You save $808/month ($9,699/year)

*Secondary financing rates are an estimated value based on input

Follow Us
UMe Assumptions
Agent/Broker
Laura Jewett(480) 628-2563laura@azinspiredliving.comMLS SA525254000

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© Listing Service, All rights reserved. The data relating to real estate for sale on this website comes in part from the Listing Service. Real estate listings held by brokerage firms other than are marked with the Listing Service logo and detailed information about them includes the name of the listing brokers. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Listing Service shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

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