Excellent location for this beautifully upgraded 3 bedroom, 2.5 bath two-story townhome in the sought-after Tiburon South community in Top Fountain Valley schools. This popular Balboa model offers 1,536 square feet, a 2 car garage, and a balcony that overlooks the lush, park-like greenbelt and playground. This exceptional home boasts numerous upgrades, including central A/C, dual-pane windows and sliders, recessed lighting, ceiling fans, chic light fixtures, raised panel interior doors and closet doors, and upgraded bathrooms. Double entry doors open to a tiled foyer and an elegant carpeted living room. The spacious kitchen is a chef’s delight, featuring a full walk-in pantry, recessed lighting, tile countertops, white shaker cabinetry, two movable islands with additional cabinet storage, and stainless appliances. The kitchen seamlessly flows into a warm and inviting oversized dining area, perfect for entertaining or doubling as a family room with sliding doors that lead to a large private patio with block-wall fencing, ideal for outdoor living, entertaining, and relaxing. Upstairs, the impressive primary suite offers a retreat area, a large walk-in closet with custom built-in organizers, bamboo flooring, recessed lighting, sliding glass doors to blacony view of beautiful greenbelt, and an ensuite bathroom with designer tiled shower. Two additional spacious bedrooms and a guest bathroom with newer vanity and a tub/shower combo complete the upper level. Enjoy the convenience of direct access to a two-car garage through the patio, complete with laundry hookups and ample storage space. Residents of Tiburon enjoy an array of resort-style amenities, including 5 swimming pools, children’s wading pools, two clubhouses, playgrounds, beautifully maintained walking trails, and mature shade trees. This wonderful home is walking distance to shopping, dining, and Orange Coast Memorial Health Center. Plus, it's just minutes from Mile Square Park, award-winning schools, major freeways, and only a short drive to the beach! Don’t miss this incredible opportunity!
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.
