Condo Opportunity in a Prime Pacoima Location! This well-positioned and move-in-ready condo offering comfort, convenience, and exceptional value in the heart of Pacoima. Perfect for first-time buyers, downsizers, or investors, this residence delivers an ideal blend of functionality and location. Step inside to a bright and inviting living space designed for everyday living and easy entertaining. The open layout flows seamlessly from the living area into the dining space and kitchen, creating a welcoming atmosphere filled with natural light. Thoughtfully designed interiors provide a comfortable retreat, while ample storage and smart use of space make this home both practical and efficient. The bedroom offers a peaceful escape with generous closet space, and the bathroom is clean, well-maintained, and ready to enjoy. Whether youre relaxing at home or hosting guests, this unit offers a low-maintenance lifestyle in a secure, well-kept community. Enjoy the convenience of community amenities, gated access, and assigned parking, all while being centrally located near shopping, dining, public transportation, and major commuter routes. With easy access to freeways and nearby neighborhood conveniences, this location supports both daily living and long-term value. Wether youre looking to own instead of rent or add a solid property to your investment portfolio, this home presents an excellent opportunity in an increasingly desirable area. Schedule your private showing today and take the next step toward ownership.
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.
