Welcome to this exceptional residence thoughtfully designed for both elevated everyday living and unforgettable entertaining in Long Beach. Situated on an expansive 7,457 square foot corner lot, this beautifully upgraded home blends timeless comfort with impressive indoor-outdoor amenities rarely found in the area. The remodeled kitchen is designed to impress with granite countertops, rich wood cabinetry, a copper sink, and stainless steel appliances including a refrigerator, dishwasher, and gas range. The adjacent living room serves as the heart of the home, highlighted by a custom natural stone fireplace with built-in shelving that creates both character and comfort. The remodeled bathrooms offer updated style and convenience, while the oversized primary provides a true private retreat. French doors open to a patio-enclosed bonus room with air conditioning overlooking the backyard oasisperfect for a Private home office with separate entrance feel, Teen/in-law retreat, Yoga + wellness studio, Creative workspace, Media/game room, Dual work-from-home setup or Guest suite potential. Step outside and experience resort-inspired living at its finest. The backyard was designed for entertaining with a stunning newer pool and spa featuring a fully automated system, a built-in barbecue, outdoor fireplace with natural stone veneer, heated outdoor shower, and extensive hardscape accented by block walls with stucco and integrated lighting. Over 3,000 square feet of maintenance-free artificial turf creates beautiful, low-maintenance outdoor space year-round. Adding even more versatility, the property includes an enclosed 1,000 square foot side yard with redwood fencing and dual entry gatesideal for recreation, pets, storage, building an ADU or additional entertaining space. Car enthusiasts and hobbyists will appreciate the custom-built 700 square foot 3 car garage complete with built-in cabinetry and a convenient half bathroom. Additional upgrades include copper plumbing, upgraded 200-amp electrical service, central air conditioning, full exterior drainage systems leading to the street, fresh interior and exterior paint, and a durable 50-year Presidential composition shingle roof. Offering an incredible combination of comfort, craftsmanship, and resort-style amenities, this one-of-a-kind Long Beach property is the perfect place to enjoy Southern California living at its best.
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.
