Stunning, turnkey custom-upgraded home offering privacy, panoramic views, and resort-style living in the highly desirable Discovery Hills area. Set on an elevated lot with sweeping views of the City of San Marcos and surrounding hills, this property delivers both tranquility and everyday convenience. Thoughtfully renovated and meticulously maintained, the home features custom cherry wood cabinetry with walnut finish throughout, soft-close drawers and doors, and high-end finishes at every turn. The chef’s kitchen, with wrap around bar is a true centerpiece, showcasing a Thermador Freedom induction cooktop, double ovens with steam capability, a dedicated steam oven in the island, extensive pull-outs, custom storage solutions, and designer fixtures. The flexible floor plan includes multiple living areas, a lower level with potential for a separate suite, and a private primary retreat with ensuite up with balcony access to the backyard. This unique floorplan features a staggered split-level design with a half-flight between living areas, creating a dynamic layout while maintaining the scale of a two-story. Outdoor living is exceptional, featuring an Endless Pools E700 swim spa under a custom redwood pavilion, a Caldera Kauai hot tub, and a fully landscaped yard with mature fruit trees. Enjoy San Marcos fireworks from your own driveway and take advantage of the privacy created by a 100-foot easement and generous spacing between neighboring homes. Additional highlights include 42 owned solar panels (two systems), on-demand water heater, engineered hickory wood flooring, travertine in baths and laundry, solid core doors, Brazilian mahogany entry door, pellet stove, and wood-burning fireplace. The property is near several trail heads and hiking trails to near by Discovery Lake, and only minutes from CSUSM, Kaiser & Palomar Medical facilities, Lake San Marcos, shopping, with easy access to HWY 78. Hurry, this is a rare opportunity to own a highly customized home with incredible views, privacy, and lifestyle amenities that are hard to find at this price point.
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.
