Opportunities like this simply don't come around in the San Fernando Valley anymore. Set on an extraordinary 17,444 square foot flat lot in the heart of Granada Hills, this classic California Ranch home offers the rare combination of a beautifully updated residence and one of the most compelling development opportunities available at this price point in Los Angeles County. As the aerial photos make abundantly clear, the backyard is massive stretching far beyond what any street-level view can capture. Fully enclosed with block wall fencing and completely flat, it offers a blank canvas of almost unimaginable scale for this neighborhood. Build a second home. Add an ADU. Put in a pool. Do all three. With California's current ADU-friendly legislation making it easier than ever to add income-producing units to residential lots, this property is positioned to be far more than just a place to live it's a long-term wealth-building asset. The home itself is warm, updated, and move-in ready. Rich hardwood floors flow throughout the main living areas, and the open layout connects a spacious living room anchored by a dramatic stacked stone fireplace to a formal dining area and one of the best kitchens you'll find at this price in Granada Hills. The chef's kitchen features custom cream cabinetry with glass accents, granite countertops, a designer arabesque tile backsplash, a professional-grade gas range, a built-in wall oven, and stainless steel appliances. It's the kind of kitchen families actually cook in and guests gather around.The generous primary suite includes a private en-suite bathroom with dual sinks, granite countertops, custom cabinetry, and a floor-to-ceiling travertine walk-in shower. Two additional well-sized bedrooms each feature ceiling fans and closets, while a bonus loft space accessible via interior staircase adds additional square footage perfect for a playroom, creative studio, or overflow sleeping area.A separate family room with French doors opens directly to the backyard, adding flexible living space that works equally well as a home office, media room, or guest retreat. Multiple French door access points throughout the home create a natural indoor-outdoor flow that is quintessentially Southern California living. Out front, the home makes a strong impression a long, low California Ranch profile with board-and-batten siding, a stone accent facade, manicured topiary, and a sweeping circular concrete driveway that provides abundant parking and serious curb presence. Granada Hills is one of the San Fernando Valley's most desirable and established communities known for its excellent schools, tree-lined streets, and strong property values. This location also offers convenient freeway access and proximity to shopping, dining, and parks. Whether you're a growing family, a multi-generational household, or an investor with an eye for value-add opportunity this property delivers on every level. The home is beautiful. The lot is exceptional. And in today's Los Angeles market, land like this is the rarest commodity of all. This is not just a home. It's a platform for your future.
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.
