Welcome to the best street in Orange, a one-block tree-lined street, a short walk to Old Towne, and a short drive to all freeways. Known as the kibby house, this sprawling 4-bedroom 4-bath ranch home has charm and personality. The front yard is a display of color from the multiple flowerbeds, and mature trees accent the winding walkway into the house. A long driveway has pavered sections. gated parking leading to additional parking with a 2-car garage. Attached to the garage is an 830 sq. ft. workshop, adu, or game room featuring a custom tile 3/4 bath, vaulted ceilings with skylights, upgraded power, and garage access. The rear yard also has an additional shed for storage. The rear yard has a gazebo, covered patio, and trellis area to enjoy the flowers or pick from many fruit trees, including lemons, naval oranges, bananas, dragon fruit, papaya, and persimmon. If you need to make a fruit salad, there are 2 sinks, one double and one utility, located on the center island. clean up is easy with 2 dishwashers, one Fisher Paykel and a Bosch dishwasher. granite counters, custom cabinets, a double oven, and a refrigerator. an octagonal eating area with lots of windows for those everyday meals, or the dining room for the more formal occasions. open to the family room, a breakfast bar for those quick meals. a custom entertainment system to watch tv from wherever you dine. A formal living room features a masonry-built brick fireplace, perfect for those holiday gatherings. classic hardwood floors and a six bay front window to view the beautiful yard. The newer primary bedroom has a ceiling fan, crown moldings, and a French door with opening sidelights out to the patio, a perfect place to enjoy your morning coffee. The en suite bath has a custom tile and glass block shower, dual sinks, and a walk-in closet. two primary bedrooms, on the other end of the house, a bedroom that has been turned into an office, and a classic tub/tile bath. There is also a main bath for the other 2 bedrooms. dual zoned central heating and air conditioning to control the climate. Solar tube skylights to let the natural light shine in. All bedrooms have custom closets to be organized and maximize the storage space. There is also a utility basement that has the HVAC and the water heater down there for maybe future wine cellar. Just drive by, and you will experience the curb appeal that says welcome home. This is truly a one-of-a-kind custom-built home on a street that can not be beat.
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.
