Elevated above the neighborhood with sweeping panoramic city views, 1229 La Mesa Avenue delivers the kind of daily living that reminds you why you chose San Diego. This well-maintained 4-bedroom, 2.5-bath Spanish-influenced home in the East San Diego Villa Heights subdivision offers 1,828 square feet of thoughtfully designed space, a 2-car garage, and the views that most people spend twice the price to find. Step through the front entry and the architecture announces itself immediately. Soaring vaulted ceilings anchor the main living area, framed by a signature arched window and sliding glass door that open to the front balcony — where the city stretches out in front of you. Hardwood flooring, a chandelier, and a tiled fireplace bring warmth and character to a space that is easy to live in and impossible not to notice. The kitchen is well-equipped and ready for daily use: white cabinetry, granite countertops, stainless steel appliances including a gas range and French door refrigerator, a center island, and recessed lighting throughout. An arched doorway connects the kitchen to the rest of the home, a nod to the Spanish-style architectural details carried throughout the property. Four bedrooms provide genuine flexibility — room for a growing family, a dedicated home office, or a guest suite. The primary suite offers privacy and the kind of retreat that makes the end of the day feel like an arrival. Two and a half baths serve the household with ease. The rear of the home features an elevated deck positioned to capture the panoramic city and valley views.
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.
