Welcome to this beautifully updated 4-bedroom, 3-bathroom home situated on over a quarter-acre lot in a peaceful and desirable area of Escondido. Thoughtfully upgraded with high-end finishes throughout, this exceptional property combines modern style, quality craftsmanship, and everyday comfort. The spacious floor plan offers generous living areas filled with natural light, while premium finishes create an elegant and inviting atmosphere. Recent improvements include a new roof and new energy-efficient windows, providing both peace of mind and enhanced curb appeal. Adding to the home's versatility is a spacious junior ADU located on the first floor, offering excellent potential for rental income, multigenerational living, guest accommodations, or a private home office. This flexible space creates a unique opportunity to offset ownership costs while enhancing the property's overall value. Step outside to your private backyard retreat, where the expansive lot offers plenty of room for entertaining, gardening, and recreation. The garden is dotted with mature fruit trees, creating a picturesque setting and providing an abundance of homegrown produce to enjoy throughout the seasons. Whether hosting gatherings or simply relaxing outdoors, this inviting space embodies the best of Southern California living. Nestled in a quiet neighborhood yet conveniently close to shopping, dining, parks, schools, and major commuter routes, this home offers the perfect balance of tranquility and accessibility. A rare opportunity to own a move-in-ready home with designer upgrades, income-producing potential, a flourishing garden, and a prime Escondido location. Don't miss your chance to make this exceptional property your own.
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.
