Imagine starting your day in a peaceful single level home where the morning light fills every corner and life finally feels as effortless as you hoped it would. This 2 bedroom, 2.5 bath, 1,864 square foot single family home in the 55+ community of Arista at Esencia in Rancho Mission Viejo offers the comfort, beauty, and easy living that so many dream of. Step inside and you immediately feel the openness of the floor plan, designed for relaxed indoor and outdoor living. Slide open the sliding window panels and let the fresh breeze flow through as you sip coffee on your gorgeous lanai. When friends stop by, this space becomes the perfect place to gather and lets you enjoy it any time of year. The kitchen will quickly become your favorite place to create meals and share conversations. It features white shaker cabinets, quartz countertops, stainless steel appliances, and a 5 burner gas range. It opens to the living and dining areas so everyone stays connected during holidays, celebrations, or nights with family. There is also an optional retreat or office area that can be your quiet reading nook, hobby space, or a peaceful place to focus. Your private primary bedroom offers everything you need to unwind. The attached master bathroom includes dual vanity sinks, quartz countertops, a glass enclosed shower, and a spacious walk in closet. The second bedroom has its own ensuite bathroom, giving guests a place to relax and feel right at home. Additional thoughtful touches include an inside laundry room, a tankless water heater for long warm showers, and energy efficient solar panels to help keep life simple and efficient. Tucked back at the end of a quiet cul-de-sac, it's location gives you the privacy and a restful environment that make every day feel like a retreat. Life in Rancho Mission Viejo is where the real fun begins. You can start the morning with a swim, meet friends at the firepits to catch up, plan a family barbecue at one of the many picnic areas, or join a group poolside. When you are feeling active, head to the courts for a game of pickleball or explore the many community gathering spaces. One local favorite is the Hilltop, which includes a stylish bar and game room that give friends a comfortable place to gather and socialize. The amenities are designed to bring people together and make every day feel like a vacation. This home brings together peace, comfort, connection, and the best that Southern California living has to offer.
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.
