Set along a peaceful creek on approximately 0.4 acres, this rare Garden Farms property blends historic charm, modern functionality, and flexible living options in one of Atascadero’s most beloved neighborhoods. Originally built in 1917, the 2-bedroom, 1-bath main home offers a warm cottage feel with thoughtful updates throughout. The chef’s kitchen is a true highlight, featuring a built-in refrigerator and a Wolf 6-burner range—designed for those who love to cook and gather. Fresh exterior paint enhances the home’s curb appeal, while numerous upgrades provide comfort and confidence for the next owner. A small basement adds options for a root cellar, bonus room, or creative space. Outdoor living is just as inviting, with an outdoor kitchen ideal for entertaining under the oaks and enjoying the serene creekside setting. Mature fruit trees dot the property, adding both beauty and seasonal bounty. A Tesla charger provides added convenience for electric vehicle owners. Adding exceptional versatility is the detached 1-bedroom, 1-bath unit, built in 1950. With its own address, separate yard, storage shed, and chicken coop, it lives independently from the main home. The unit includes a full kitchen, laundry hookups, an electrical submeter, and a newly installed ceiling, allowing tenants to be billed for their usage while offering updated comfort. This unique addition creates meaningful supplemental income potential, multi-generational flexibility, or welcoming guest accommodations. The property also includes two sea-train containers—one configured for storage and the other serving as a shop—providing valuable workspace and utility. Leased solar helps offset energy costs. Garden Farms is known for its narrow roads, friendly neighbors, and timeless sense of community. With its own independent water district and infrequent turnover, opportunities here are rare. While many improvements have already been made, there remains room for a new owner to personalize and make this special property their own. A unique chance to live, invest, and create in a truly distinctive 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.
