Amazing Custom Built home on 0.75 ACRES!! Fantastic views of the beautiful evergreen forest and canyon. Pride in ownership shows throughout with the home with a 2 YEAR OLD ROOF and a NEW HVAC System. This custom home was built with 2x6 WALLS! Location is within WALKING distance of the Paradise Pines Property Owners Association. Upon entering this 3 bedroom 2 bathroom home, through the custom stained-glass front door, you are greeted by a spacious custom ATRIUM that overlooks the living room. The living room features a custom 8x4ft window showcasing stunning Magalia views, a free standing wood burning fireplace set on tile with a custom rock backsplash, and a built-in bookcase accentuated by directional lighting. Sliding glass doors open to an over 500 sq ft entertaining deck, plenty of room for all your family and friends and perfect for enjoying the scenery. The kitchen is highlighted by a stained-glass light, plantation shutters over the sink and granite countertops. It includes all black appliances, featuring a glass cooktop and NEW double ovens. Adjacent to the kitchen is the laundry room, complete with a full-sized washer and dryer, overhead cabinets, and a pantry for extra storage. The dining area features a 6ft breakfast bar that looks into the kitchen and an etched glass window overlooking the entryway. Down the hallway, you will find a guest bathroom, two bedrooms, a linen closet, and the primary bedroom. Both bathrooms include cultured marble showers and matching countertops, creating a cohesive and polished look. The garage offers a bonus storage room, epoxy flooring, and a dedicated workbench area for projects. Additional upgrades include 2 wood sheds, one of which has electricity, and every room has remote controlled ceiling fans. Being set in the PPOA, this home offers scenic walking trails, pool and spa, lounge, billiards room, outdoor activity areas, social spaces, versatile sports courts, and a variety of engaging classes ranging from sewing to ceramics—providing a vibrant sense of community and lifestyle.
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.
