Welcome to 1395 Santa Diana Rd #3 — a beautifully upgraded townhome in one of Otay Ranch’s most sought-after communities. Unlike many other phases nearby, this enclave was not part of the construction defect litigation, offering extra peace of mind and pride of ownership from the moment you arrive. Step inside and immediately notice the bright, open layout that sets this home apart from other similar units. Dual entry windows fill the living area with natural light, while the spacious family and dining rooms flow seamlessly together—perfect for entertaining or relaxing. The chef’s kitchen features an expansive pantry & abundant storage not found in other similar floor plans, plus brand-new stainless steel refrigerator, microwave, and dishwasher. The property features a high-end Puronics whole house water softener & filtration system that is less than a year old. The entry level is finished in stylish tile flooring, and the stairwells, second, and third levels feature upgraded luxury vinyl plank throughout—including the stairs, a costly enhancement many neighbors skipped & kept carpeted. On the top floor, you’ll find a versatile third-level retreat that includes a full bedroom, bathroom, and loft—ideal for a game room, theater, office, or even a fifth bedroom. Enjoy the convenience of nearby parks just steps away, the community pool & recreation center right up the street, top-rated schools, trails, shopping, and dining—all while living in a thoughtfully designed home that combines comfort, light, and peace of mind in every detail. Community amenities include a resort-style swimming pool, spa, fitness room, clubhouse, sport courts, barbecue and picnic areas, and multiple parks and playgrounds within the Village of Montecito. Nearby, residents can enjoy Grove Park, Jacaranda Park, and Montecito Park all just a short walk away, along with additional local parks and walking trails throughout Otay Ranch and greater Chula Vista.
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.
