VA Assumable loan at 2.25%!! Entertainer's home in Paseo Park on the W side of Lakeside. This 4bed/3bath 2 story 2,035SF home on a 6,970SF lot is where you want to be to enjoy your summer in this close-knit community. Step out the french door to your pool w/rock waterslide & raised 10 person spa w/pebble tech finish ready to soak in the long summer days making unforgettable memories. Elevated deck overlooking the pool with gas fire table gives you a place to relax. A fully equipped outdoor kitchen tucked beneath a covered patio—ideal for shaded entertaining and effortless indoor-outdoor living featuring a grill with seer burner, hot plate top & sink ready to host epic cook outs. Well sized grassy area still provides room to stretch out. Inside the home is a desirable expanded floor plan from a permitted addition. The living room features vaulted ceilings, solar tube, fireplace with marble surround, metal & glass railing for a custom look. Warm wood cabinets, granite counters w/SS accent on backsplash, SS appliances, large island, built in cabinetry for extra pantry storage make this kitchen plenty of space for hosting. Family room/extended dining area provides for additional living space. 2 bedrooms & 1 full bath downstairs. Upstairs this primary suite is a true ensuite space w/ bonus office/flex-space, private deck with mountain & sunrise views, fireplace, vaulted ceilings, custom walk in closet, & built in safes. The ensuite primary bath features stone accents, walk in shower with rain style fixtures, jetted tub, & dual vanity for your private zen space. Entire home features fresh interior & exterior paint, dual pane windows & shutters, new water heater, new furnace & cool A/C, pool solar, 35 solar panels leased at $260/month helps keep your electric costs down. Mature front & back landscaping with a bubbling water feature to greet you at the front door as you enter. Looking for a community with holiday gatherings including packed Halloween nights this is one you will want to check out. Paseo Park HOA is $87/month. With nearby trails to explore, restaurants, and even a local Rodeo, west Lakeside living means more space, more privacy, and a true neighborhood feel—surrounded by scenic hills, Lindo Lake, local parks, trails, & easy access to everyday essentials. Nearby access to 67 & 52 freeways for an easy commute. ***Loan balance on the VA loan is approx $602K.
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.
Yes. Non-veterans can assume a VA loan, provided they meet the lender’s VA criteria. When a qualified buyer assumes a VA mortgage from a veteran or active-duty service member, the seller’s VA loan entitlement remains tied to the assumed loan until the buyer pays off or refinances the loan. This process restores the veteran seller’s entitlement, enabling them to use their VA benefit for a future home purchase.
Yes. All FHA loans are assumable by law as long as the buyer meets the FHA’s credit, income, and qualification requirements and obtain lender approval before assuming the loan (per FHA regulations effected December 15, 1989). Roam makes this process simple for buyers.
Generally, conventional loans are not assumable. In rare cases, a conventional loan may be assumable with lender approval. Use our search tool to find homes with assumable low-rate loans, or reach out to us if you’d like to confirm a specific home’s assumability.
