Discover this exceptional 3-bedroom, 3-bathroom home in the sought-after, gated Watercrest community, ideally located just 5 miles from the pristine shores of Venice Beach and Downtown. From the moment you arrive, you’ll be welcomed by beautiful new landscaping that sets the tone for what awaits inside. The covered front porch is great for sitting and relaxing while offering privacy and space. The thoughtfully designed open-concept layout seamlessly connects the living, dining, and kitchen areas, creating a bright and inviting atmosphere filled with natural light. The kitchen is a true focal point featuring granite countertops, stainless steel appliances, walk in pantry and large center island —perfect for everyday living and entertaining. Tile flooring throughout all main areas. The spacious primary suite serves as a private retreat, complete with a luxurious en-suite bath featuring dual sinks, a generous step-in shower, soaking tub and dual walk in closets. The second bedroom acts as a junior suite, great for children, parents or guests needing their own space. The third bedroom has a full bath outside the door. Step outside to your screened lanai with pavers and take in one of this home’s most captivating features—a sunset-facing backyard overlooking a large, tranquil lake. Enjoy breathtaking evening skies reflecting over the water, creating the perfect setting for relaxing, entertaining, or simply soaking in the peaceful view. The open yard offers space for a pool, all while enjoying expansive water views. Residents of Watercrest enjoy access to desirable amenities, including a community pool and fitness center, all within the security and privacy of a gated neighborhood. With convenient access to Venice Beach, shopping, dining, and the interstate, this home perfectly balances tranquility and accessibility. Don’t miss this opportunity to own a beautiful lakefront home with stunning sunset views in one of Venice’s most desirable communities!
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.
