Amazing Show-Case home within Gated GOLF COURSE & nearby LAKE community!!! IMPORTANT NOTE: Home is ONLY 11 Days Active on Market! (Minus -86 Days is a technical glitch the MLS is working on). Home was In-Escrow and Buyer couldn't perform. Now is a rare 2nd chance on this gorgeous REMODEL! Act Fast! (VA Low-Interest Loan is Assumable) This fantastic, designed Home in the heart of Mission Viejo is perched on a hilltop with beautiful VIEWS of nature for an INCREDIBLE value! Stylish Kitchen & Bathrooms with impeccable design all within a well-planned GATED Community with a resort style Pool & Spa! Home is currently set up as a 2 Bedroom plus a Loft with a unique Option of adding an EXTRA 3rd or 4th Room / Bonus Room providing an ADDITIONAL 100 -to- 300 Square Feet of interior living! (Subject to City Permits & HOA Approval) Square Footage has the potential to go from 1,364 to 1,600+ Sq. Ft. (Approx.) Recently Re-Piped with PEX plumbing, EV Charger in Garage, Nest Thermostat and Ring Doorbell! Extensive Kitchen Upgrades include Quartz Counters, Farmhouse Sink, High-Loop Faucet, New Stainless-Steel Appliances, Wine Fridge, recessed lights, designer paint, grand baseboards and more. Two Main-Level Bathrooms have been Remodeled: Glass Shower Enclosure, Quartz Counters, Brushed Nickel Hardware, 4 1/2" Baseboards, Over-Sized Mirrors, High-Quality Toto Toilets, new water faucets, Sinks, Showerhead and stylish hardware. Extensive Walk-In Closet space with organized shelving and a secondary closet in the Primary Bedroom. Wood Shutters and new Window Blinds. Indoor Laundry Room includes Large Cabinetry & 220 Volt outlet. Fantastic Natural Lighting is abundant with high ceilings, multiple large sky view windows and glass sliding doors. Superb Indoor / Outdoor California lifestyle as the home comfortably flows to the outside patio for Views, Sun, BBQ or Relaxing. Easy access to the Pool & Spa too! Garage is extra deep with bonus indoor storage! Plus, enjoy a dedicated covered carport. Lake Membership has its privileges with Boating, Fishing opportunities, Yacht Club, Sailing, Top-Notch Summer Concerts, beautiful beaches & volleyball courts. To top it off, Finisterra is a gated community and it neighbors Lake Mission Viejo with walking trails, fun lakeside beaches, dining, fitness locations, and more! AWARD WINNING Public & Charter schools. (Disclaimer: Some Photos are virtually staged) - Take a look at the aerial video - Mission Viejo Lifestyle at its best!
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.
