Welcome to 10720 W L Ave--an exceptional, one-of-a-kind estate set on nearly 7 private acres, complete with groomed trails winding through a beautiful wooded setting. This meticulously maintained 5,100 sq ft SMART HOME offers the perfect balance of luxury, privacy, and modern convenience.Step inside to a thoughtfully designed floor plan featuring a spacious great room, a main-floor primary suite, two dedicated office spaces, a chef's kitchen, a bar area, a laundry room, a mudroom, and easy access to the back deck--ideal for both everyday living and entertaining. Upstairs, you'll find three additional bedrooms, two beautifully renovated bathrooms, and abundant storage throughout. The lower level adds approximately 1,000 sq ft of finished living space, including a large bedroom with an egress window, an expansive family room, game area, workout room with sauna, and a well-organized utility space with built-in shelving.Outside, the property really shines. Enjoy a stunning outdoor entertainment area with a covered seating space featuring surround sound, heaters, and a fire pit. A built-in grilling station, saltwater pool, and storage shed complete the backyard oasis. Just south of the home, a 30 x 40 pole barn offers endless possibilities for storage, hobbies, or even a private workspace. Major updates provide peace of mind, including a new roof (2025), updated mechanicals (2020), kitchen renovation (2018), primary suite update (2017), upstairs bathrooms (2023 & 2025), and back deck with built-in grill area (2022). Additional property details are available in the attached documents. Schedule your private showing today--this extraordinary property won't last long.
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.
