Welcome Home! The most affordable single story family home in the Enchanting Historic city of Barstow! This beautiful home offers 3 exceptional bedrooms each with considerable space for all your bedroom furniture, and touches. As you walk inside, you are greeted by a small family room, the perfect space to relax and enjoy those tranquil days, to your left you will discover your quaint and inviting dining room, excellent for small gatherings, as you continue to the back of the home, you will enter your kitchen, a charming and welcoming heart of the house , with a beautiful center island that will accommodate and complement your growing family! Step into the backyard , you will love to spend all of your time here as the yard is catered to the festive family that loves to entertain! With an above ground pool for this hot summer! Additionally , if you are looking to expand, this home offers the possibility of turning the detached garage into an ADU! The home has everything you need to live comfortably and entertained all year round. Starting with it's prime location of the tranquil and timeless city, the home is located close to the Barstow STEM academy , parks, city hall and the famous train station, also you will be part of the high speed rail project as this bullet train will be passing by the city, a very convenient way of transporting from Rancho all the way to Vegas and in between, Barstow is also home of over 6+ different spectacular Museums including the Nasa Visitor Center you are sure to indulge and learn from the city and its history, and fall in love with its energy! It is also just minutes away from the Barstow Famous outlets and much more! You do not want to miss this opportunity to make this home yours! This home is ready for your family to make it their own! Come see it in person, make your appointment today!
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.
