Right in the heart of Old Torrance, this cheerful 3 bedroom, 2.5 bathroom townhome delivers the kind of easy South Bay lifestyle people are always chasing. Tucked into a beautifully maintained community filled with palm trees, grassy lawns, lush landscaping, and a community BBQ area perfect for relaxed weekend get-togethers, the setting feels peaceful and tucked away while still being close to everything. Originally the model home for the community, it still has that extra welcoming feel the moment you walk in. Inside, the home is bright, open, and filled with natural light, with a main living level that flows effortlessly from the living room to the dining area and kitchen, making it just as perfect for hosting friends as it is for cozy nights at home. There’s even a tucked-away office nook off the living area, ideal for working from home, or pretending to answer emails while online shopping. Large windows let the sunshine pour in, and there’s also a convenient powder room on the main level. Upstairs are all three bedrooms, including two spacious primary suites, both with their own tubs and showers, plus an additional third bedroom that works equally well as a guest room, office, or creative space. Skylights upstairs bring in even more natural light and make the whole home feel warm and airy throughout the day. Downstairs, you’ll find an attached 2 car garage along with a dedicated laundry area and extra storage space. And then there’s the neighborhood. Living in Old Torrance means your weekends practically plan themselves, start the morning with coffee from Clutch & Coffee, grab yoga nearby, spend Sundays wandering the Wilson Park Farmers Market, then meet friends for dinner at Madre, Red Car Brewery, or Miyabi Uni. Boutique shops, tea spots, local cafes, and charming tree-lined streets give the area its signature small-town feel, while nearby freeways make getting around the South Bay surprisingly easy. Comfortable, bright, and full of personality, this is one of those homes that just feels good to be in.
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.
