Welcome to 1513 W 215th St, a beautifully reimagined Torrance residence that blends modern luxury with exceptional versatility. Fully renovated from top to bottom, this turnkey property features a remodeled main home plus a brand-new 1 bedroom, 1 bath addition currently used as a JR ADU, perfect for extended family, guests, or income opportunities. The main home offers two bedrooms and one updated bathroom and has undergone extensive improvements including a new roof, upgraded plumbing and electrical, new windows, recessed smart lighting, and high-end finishes throughout. Abundant natural light enhances the open layout, creating a warm, welcoming atmosphere. At the heart of the home is a stunning custom kitchen designed for both beauty and functionality, featuring new soft-close cabinetry, luxury quartz countertops, an oversized waterfall island, a beverage bar with custom cabinetry, a wet bar with sink, and premium stainless-steel appliances. The bathroom is fully modernized with contemporary tile, quality fixtures, and a clean, sophisticated look. Every detail has been crafted for comfort and long-term durability. The newly constructed JR ADU adds tremendous value with its private entrance, spacious bedroom, stylish bathroom, and modern kitchenette ideal for family, guests, or rental use. Beyond the living spaces, the property includes a detached two-car garage and a separate bonus structure that can function as a home office, gym, studio, workshop, or potential guest space, offering outstanding flexibility. Located in one of Torrance’s most desirable neighborhoods, the home is close to beautiful parks, award-winning Torrance schools, and major shopping and entertainment, including Del Amo Fashion Center. Nearby Torrance Memorial Medical Center and UCLA Harbor Medical Center provide top-tier healthcare access. With convenient dining options, quick freeway access, and close proximity to LAX and South Bay beaches, this location is truly ideal. With modern upgrades, thoughtful design, and unmatched versatility, this move in ready property offers comfort, functionality, and an incredible opportunity to make this special house your home.
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.
