This price you wont find it eassy in this area, especially these days, so don't miss the opportunity to make an offer and start the new year with a new beautiful home for your family and with good monthly payments since the interest rates are good now. This lovely property has been recently painted inside and out, new outlets, and best of all, you'll save on your electricity bill every month because the solar panels are included in the sale price. Upon entering this beautiful home, you'll be greeted by a warm and inviting atmosphere thanks to its lovely fireplace, perfect for the chilly winter time. To the left of the entrance is the kitchen, which leads to another living area that also includes the dining area. The home has three bedrooms and two bathrooms, plus a separate laundry room. The living areas, kitchen, laundry room, and bathrooms have tile flooring, while the bedrooms and hallway have wood laminate flooring. The heater was replaced about a year ago, as were the windows. The detached garage fits three cars and has great potential for conversion into an ADU (Additional Duties Unit) since it has nearby pipes for water and septic connection. This is a great opportunity to generate extra income and help pay your mortgage or a family member living nearby. If you love animals, you can have a horse, goats, or chickens here, since it has a henhouse and it is a horse property. Has to gates for entrance to the property for your convinience. Schedule an appointment, come see it, and don't miss this opportunity to make it yours with an incredible price! This lovely and peaceful property is located in the La Mesa area, close to schools, Ranchero Road, and Cottonwood, and about 10 minutes from the 15 Freeway. Property is in good condition.
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.
