Absolutely gorgeous Sinaloa Highlands home situated on a massive 15,000+ sq lot with fully paid solar panels. As you enter this 5 bed/4 bath home with over 2,500 sq ft, you are greeted by an exquisite kitchen with granite counters and breakfast bar, custom cabinets, recessed lighting, tile backsplash and stainless steel appliances. Follow the open floor plan from the kitchen through the dining area and into the living room with a tile fireplace and access to the patio through the sliding door. The primary suite is absolutely gigantic with built-ins, a separate office area and a completely remodeled bathroom featuring dual sinks, LED lighted mirrors, frameless glass shower, rain head with blue-tooth speakers, jets and a linear drain. One wing includes three bedrooms and two bathrooms and the fifth bedroom with attached bath is located off of a side hallway. There is also a separate family room which also has access to the patio in addition to views of the fabulous backyard. Other features include newer wood floors throughout the home and a new hot water heater. The outdoor spaces of this home are perfect for those who like to entertain as there is a pizza oven with built-in counters on the patio, a gazebo that is ideal for al fresco dining located down a private walkway, a huge artificial grass area and plenty of space for a pool, sport court or ADU. The backyard also has an abundance of fruit trees which include pineapple guava, meyer lemon, key lime, pomegranate, persimmon, fig, traditional lemon, rosa plum, Washington naval, apricot, peach, avocado, olive and a passionfruit vine. Located within close proximity to schools, parks, hiking and shopping.
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.
