Welcome to this beautifully updated single-story home offering 2,388 sq ft of living space on a fully fenced and gated 2.67-acre lot. The main residence features 4 bedrooms, 1 full bath, 1 three-quarter bath, and 1 half bath, with a renovated kitchen, bathrooms, and laundry area. A two-stall carport and charming center courtyard with trellis and mature landscaping enhance the home’s inviting appeal. As you enter the property, you’re greeted by a tranquil pond and a large newer planter showcasing olive trees and roses. The grounds are rich with established fruit trees and rose bushes throughout. Ideal for animal lovers, the property includes a large pasture with two enclosed corrals, an additional enclosable area with covered structure for large animals, a chicken coop with hen boxes, and an extra-large dog kennel. Five exterior storage sheds are also included. Perfect for contractors or business owners, the property features a newer (approximately 3-year-old) 2,400 sq ft shop with a 14’ x 14’ sliding door, 19-foot interior ceiling height, and both 110V and 220V electrical. There is ample space for parking commercial vehicles. In addition, a newer (just over one year old) 800 sq ft shop/storage building offers electrical and is plumbed for a future half bath—an excellent complement to the main shop. Adding even more value is a newer (just over one year old) 800 sq ft, 2-bedroom, 1-bath ADU featuring owner-built custom cabinetry and high-quality finishes throughout. The ADU and shop present outstanding income or flexibility opportunities—ideal for extended family, a personal business, or leasing to another business owner. This rare, versatile property offers privacy, functionality, and endless possibilities—all in one exceptional setting.
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.
