Welcome home to this beautifully updated single-story home that combines comfort, style, and exceptional curb appeal. Nestled in the heart of East Simi Valley and surrounded by scenic mountain views, this home is charming and offers thoughtful details throughout.Step inside to a bright and inviting greatroom featuring rich wood-like flooring, neutral designer paint, and a cozy brick fireplace -- perfect for relaxing evenings at home. New sliding glass doors open to the backyard, blending indoor and outdoor living seamlessly.The remodeled kitchen is sure to impress with its granite countertops, glass-paneled cabinetry, modern appliances, and a breakfast bar ideal for casual dining. A charming kitchenette area and a small bar nook add extra functionality and character, making this space both practical and picturesque.Both bathrooms have been beautifully refreshed with granite countertops and updated finishes. Each bedroom is generously sized and features ceiling fans for year-round comfort.Additional features include dual-pane windows, plantation shutters, and fresh interior paint throughout, enhancing the home's energy efficiency and modern appeal.Step outside to a new wood-covered patio adorned with bistro lighting, creating a magical space for entertaining or simply unwinding at the end of the day. The spacious faux grass yard offers plenty of room to play, host gatherings, or garden.One of the true highlights of this property is the redone garage - fully insulated, freshly painted, with new lighting and sleek epoxy flooring. It's the ultimate man cave or hobby retreat, a rare find that sets this home apart!Located near one of Simi Valley's top-rated schools and in one of the most desired communities in the area with no HOA -this home offers the perfect blend of beauty, comfort, and convenience.
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.
