Tucked away in the desirable Troy Estates neighborhood, known for its beautiful custom homes, wide streets, and peaceful setting, this well-maintained home built in 2002 offers 3 bedrooms, 2 bathrooms, 1,754 square feet, and sits on a spacious .37-acre lot. As you arrive, you are welcomed by mature landscaping in both the front and rear, towering trees, and a relaxing setting that gives this property a true sense of privacy and charm. Step through the front door and into an open-concept layout with the formal dining area to your left and the spacious living room straight ahead, complete with soaring vaulted ceilings and a cozy propane fireplace that creates the perfect gathering space. The open floor plan flows seamlessly into the kitchen, making it ideal for both everyday living and entertaining. The kitchen is both functional and inviting with updated appliances, tiled countertops, a five-burner gas cooktop, breakfast bar, garden window, and a sunny breakfast nook (kitchenette)—perfect for enjoying your morning coffee while taking in views of the backyard. The primary suite is thoughtfully situated for comfort and privacy. Enter through double doors into your own retreat featuring a coffered ceiling, large walk-in closet, and spacious ensuite bathroom with dual sinks, a separate soaking tub, and shower for relaxing at the end of the day. The guest bedrooms are generously sized, with the first guest room featuring an arched window and walk-in closet. The split-bedroom layout offers additional privacy with the primary suite located on one side of the home and the guest bedrooms on the other. Adding to the home’s functionality is a large laundry room complete with ample cabinet space and a convenient folding counter. Step outside to your own backyard oasis. The fenced backyard features natural landscaping, mature trees, a brick-paved patio, and a cozy firepit area—perfect for entertaining, hosting barbecues, or enjoying peaceful evenings under the trees. Additional amenities include RV parking, an 8x10 storage shed, indoor laundry, and a Generac 14 KW whole-house generator for added convenience and peace of mind. If you’ve been looking for a move-in ready home in one of Magalia’s most desirable neighborhoods—with no HOA fees, just the freedom to relax and enjoy—this is one you won’t want to miss. Call today to schedule your private showing!
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.
