Historic Grandeur with Modern Flexibility in the Heart of Fresno, 1407 E Princeton Ave, Fresno, CA 93704. Step into a timeless piece of Fresno history with this stunning 1920s two-story, 2976 square foot estate ideally located between Fresno City College and the beloved Christmas Tree Lane. From the moment you arrive, the gated circular driveway and iconic California palms create a striking first impression. Elegant Living with Flexible Possibilities, Offering 3 bedrooms and 3 bathrooms, this home blends classic architecture with modern-day versatility, Private ADU Opportunity Just off the front entry, a grand formal parlor with glass French doors and a fireplace is currently configured as a private living space, ideal for guests, multigenerational living, or potential rental income, with convenient access to a nearby full bath. Light-Filled Interiors Expansive windows bathe the home in natural light, while a west-facing slider creates effortless indoor-outdoor flow. Designed for Entertaining, The spacious living room, formal dining area with fireplace and a well-appointed kitchen provide a warm and inviting setting for gatherings. Exceptional Storage & Bonus Spaces Includes a dedicated laundry area, pantry with custom built-ins, sunroom/lanai, and a full basementrare for homes of this era. Upstairs Retreats Primary Suite Escape: Features an original fireplace, access to a sun porch with a jetted tub, and a beautifully updated shared bath with dual-head shower. Secondary Suite: A generously sized bedroom with its own private bathroom and balcony overlooking the front grounds. Third Suite: A spacious multipurpose room with dual closets and a sitting room. Thoughtful upgrades include, Owned Solar System Enjoy energy efficiency and long-term savings. Major Updates Completed: Including roof, water heater, windows, and HVAC system Resort-Style Backyard: Relax or entertain in your private oasis with a pool, water fall feature, and slate stone patio. Expanded Utility Space Additional graveled parking with power and sewer hookups perfect for RVs, trailers, electric car charging, or future expansion Future ADU Potential the Seller-submitted plans to the City of Fresno for an additional unit. Enhanced security equipped with a comprehensive camera system. This home Offers a charming, historic ambiance and is conveniently located near Lafayette Park, making it ideal for walkers, cyclists, and pet owners.
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.
