Nestled at the base of the stunning White Tank Mountains in the exclusive gated community of Russell Ranch, this elegant Tuscan-inspired custom estate sits on an oversized corner lot engineered for the modern adventurer. Designed with custom luxury & recreational freedom in mind, this rare property features a double RV gate with ample parking for your motorhome, boat, or weekend toys, plus HOA covenants provide the opportunity to build a custom detached RV garage. Step through the grand courtyard entry into over 4,000 square feet of masterfully crafted living space featuring 4 spacious bedrooms, 4.5 baths, private executive office with direct courtyard access & dual stone-clad gas fireplaces. Enjoy the spacious feeling of 12 foot ceilings throughout the interior of the home. The heart of the home is a gourmet chef's kitchen appointed with rich custom cabinetry, granite tile countertops, dual wall ovens, gas cooktop, center island with prep sink, dedicated bar with buffet area & an enclosed butler's pantry. The owner's retreat serves as a true sanctuary, boasting its own stone fireplace, French doors to the back patio, and a spa-quality ensuite with jetted tub, travertine walk-in shower & generous walk-in closet. Outside, the expansive curved covered patio overlooks a lush green lawn framed by mature palm trees, offering the perfect canvas & abundance of space to add a resort-style custom pool while still preserving your premium vehicle storage. Complete with a 3-car garage, newer interior & exterior paint & two new 5-ton, 14 SEER Goodman HVAC systems for energy-efficient comfort, this one-of-a-kind home offers an unparalleled lifestyle with easy access to scenic hiking trails, golf courses, premier dining & top-rated schools.
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.
