Price Improvement and Seller may pay up to $20,000 for Buyers' Closing Costs or Rate Buydown! Welcome to 1618 Alapat, a Peaceful, Friendly Cul-De-Sac Home! This Stunning Ranch Home features UPGRADES & UPDATES GALORE! • Beautiful Double Wood Entry Doors • ALL BRAND NEW Skylights w Low E Glass • Chef's Kitchen w/Double Ovens • Five Cooktop Gas Range • Energy Star Certified Updated Appliances • BRAND NEW Fridge (that stays) • BRAND NEW Microwave • Culligan under Sink Drinking Water System • Gorgeous Wood Beam Ceilings • BRAND NEW Electric Fireplace • Living Room is wired with a 9-channel Dolby Surround Sound • Wet Bar in Sun Room • Primary Bath has Double Sinks, Soaking Tub & Separate Shower • 2nd Bedroom has ENSUITE Bathroom • BRAND NEW Carpet installed in Two Bedrooms • Energy-Efficient Windows & Doors • DUAL HVAC Zones w/Nest Digital Programming & New Ductwork (10 Yr. Warranty from 2019) • TWO Whole-House Fans • Two Gas Water Heaters, Average Gas Bill $45/mth • Security System • Touch-Plate Lighting • Laundry Room Sink • Newer Washer & Gas Dryer (2023 - Stay!) • Full Exterior Paint 2025 • OWNED 7.48 kW Solar System (w/transferable 18 yrs remaining warranty) that produces an impressive 12.2 MWh annually • Majority of Roof Replaced in 2019 w/Solar Install • In-Garage Level II EV Charger (10.2 Kwph) • Average Monthly Electric Bill - $42 • BRAND NEW Epoxy Flooring in Garage • 36,000 Gallon Saltwater Pool (w/a Solar Heating Cover) • BRAND NEW Pool Filter • New Pool Pump installed 2023 • Soothing Waterfall • Extra-Large Gazebo is Pre-Wired for Speakers & Cable TV • Stainless Steel Gas Grill & Rotisserie • Fresh Fruit Year-Round w/Grapefruit, A Variety of Oranges, Avocados, Pineapple Guava & Limes • Abundant Rose Bushes • Fully Enclosed Backyard = Privacy! • Professional Landscaping & Mountain Views • Low-Voltage Lighting & Digitally Controlled Irrigation System • Brand New Septic installed in 2014 • SIX driveway parking spots with unlimited street parking Close to Top Rated Schools, Parks, Hiking Trails, Wineries, and the SD Safari Park, ALAPAT DRIVE, with NO HOA and LOW TAXES & NO MELLO ROOS, gives you the Perfect Balance of Tranquility & Convenience. Move-in Ready & loaded with Many Upgrades, this Home is designed for Effortless, Eco-Conscious Living with Unforgettable Gatherings. Don't miss Your Chance to Live this Experience.
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.
