Nestled among the towering pines of the highly sought-after Smiley Park Country Club, this charming 2-bedroom, 1-bath mountain retreat offers approximately 1,414 sqft of living space on an oversized 17,500 sqft lot. Surrounded by mature trees and abundant wildlife, this property captures the true essence of mountain living while offering comfort, convenience, and community amenities rarely found in the San Bernardino Mountains. Inside, you’ll find warm mountain character with beautiful wood ceilings, rustic cabin accents, updated flooring, and an upgraded kitchen featuring a large center island perfect for entertaining family and friends. Natural light fills the home while the open layout creates a comfortable flow ideal for both full-time living and weekend getaways. Step outside onto the spacious deck and enjoy peaceful mountain mornings beneath the trees. Deer, birds, and Smiley Park’s famous gray squirrels are regular visitors, creating the type of mountain experience buyers dream about when searching for a home in Running Springs. One of the standout features of this property is the exceptional parking capacity with room for approximately 6 vehicles, providing flexibility for guests, outdoor toys, or multiple drivers — a rare and valuable feature in mountain communities. Located within walking distance of the Smiley Park clubhouse and community pool, owners can enjoy one of the area’s most unique private mountain neighborhoods. The community pool is currently undergoing a major renovation expected to be completed by mid-June, adding even more value and enjoyment just in time for summer. Outdoor recreation is nearby with Snow Valley Mountain Resort located less than 8 miles away, fishing opportunities within a short drive, scenic hiking trails throughout the area, and additional recreation near Green Valley Lake. Smiley Park Country Club is known for its peaceful forest setting, walkable streets, community atmosphere, clubhouse amenities, and mountain lifestyle that continues to attract buyers seeking a true escape from city living.
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.
