Tucked onto a quiet Sierra Lakes cul-de-sac in Fontana, this detached two-story home makes a warm first impression from its covered front porch and arched entry window. Inside, the door opens to a bright, formal living and dining space where polished tile floors stretch beneath crown molding and a fireplace framed by a decorative mantel sets the tone. Chandelier lighting, included with the home, adds a touch of elegance overhead, and a built-in mirrored display niche gives the room a finished, custom feel. The path leads naturally into the kitchen, the heart of the home, where granite counters and a full granite backsplash wrap a center island with bar seating. Stainless-style appliances and a gas range make it as practical as it is handsome, while recessed lighting keeps the space bright and a walk-in pantry tucked behind an etched-glass door keeps everything within easy reach. Just off the main level, a downstairs bedroom and bath offer flexible space for guests, a home office, or multigenerational living. Upstairs, three bedrooms and a small loft open off the landing. The primary suite is the quiet retreat of the home, with shuttered bay-style windows, a walk-in closet with built-in organizers, and a spa-style bath featuring a soaking tub, a dual-sink vanity, a separate glass shower, and mosaic-tile accents. Laminate flooring, plantation-style shutters, and mirrored closet doors carry a consistent, finished feel through the bedrooms, while a dedicated laundry room with built-in storage keeps everyday tasks easy. Step out back to where this home truly shines. A full-width covered patio with ceiling fans and recessed lighting runs the length of the house, anchored by a built-in outdoor kitchen island with grill, sink, and bar seating, made for easy weekend gatherings. Beyond it, low-maintenance turf is framed by terraced garden beds with stone accents and steps to an upper terrace, all enclosed by block walls for a private, finished setting. Central air and heat, an attached two-car garage, a tile roof, and no HOA complete this 2,598-square-foot home, set on a 5,348-square-foot lot and built in 2000.
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.
