You'll feel it the moment you pull up.Welcome to 1484 N Rose Street, a thoughtfully upgraded Burbank property offering flexibility, functionality, and long-term value. Situated on a desirable 7,150 sq ft corner lot, this property features a 3-bedroom, 2-bathroom main residence (1,008 sq ft) along with a detached 1-bedroom, 1-bathroom ADU (499 sq ft)--ideal for additional income, extended family, or a private workspace.From the moment you arrive, the home makes an impression with exceptional curb appeal and an inviting presence that carries throughout. Inside, the home is light, bright, and designed for effortless entertaining, with a natural flow connecting the front of the home all the way through to the backyard. Hardwood flooring throughout adds warmth and character.The kitchen has been tastefully updated with modern cabinetry, stainless steel appliances, and cohesive fixtures, creating a clean and functional space that ties seamlessly into the home's overall feel.The bathrooms offer a thoughtful blend of comfort and convenience, featuring one with a jetted soaking tub and another with a walk-in shower.Step outside into a meticulously maintained entertainer's backyard, complete with a built-in BBQ area, fire pit, outdoor seating, and a covered gym space with jungle gym. As the sun sets, beautiful landscape lighting throughout the front and backyard creates a warm, elevated ambiance.The detached ADU is well-positioned for privacy, attached to the 2-car garage and featuring its own separate entrance accessible from both the front yard and side gate. Inside, the ADU offers a 1-bedroom, 1-bathroom layout with a full kitchen (gas) and stylish tile flooring, making it ideal for rental income, guests, or extended living.Originally built in 1940, the property has been enhanced with major system upgrades including a new roof (2017), trenchless sewer line replacement (2011), voluntary seismic retrofit (2020), and a new HVAC system (2022).Ideally located near the Chandler Bike Path and just minutes from Magnolia Park, Warner Bros., Disney Studios, Toluca Lake, and the NoHo Arts District, and within the highly regarded Burbank Unified School District, this home offers both lifestyle and long-term value.Whether you're looking to generate rental income, house hack, or create a multi-generational living setup, this property offers a rare level of versatility that's increasingly hard to find in Burbank.Live in it. Rent it. Share it. Grow into it. This one gives you options.
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.
