Enjoy the benefits of 21 solar panels, delivering energy efficiency and long-term savings in the highly desirable 24-hour guard-gated community of Canyon Lake. This charming and unique single-story home offers 3 bedrooms, 2 full bathrooms, and 1,576 sq ft of thoughtfully designed living space, all situated on a 7,405 sq ft lot. From the moment you arrive, you’ll appreciate the excellent curb appeal and distinctive layout, highlighted by a private side-entry front door that adds both character and privacy. Inside, the home is filled with natural light from numerous windows and skylights, creating a bright, open, and welcoming atmosphere. Laminate flooring flows throughout the living areas and bedrooms, while tile flooring in the kitchen and bathrooms provides durability and easy maintenance. The kitchen maintains its original appliances, cabinetry, and unique hardware, preserving the home’s charm while opening directly to the dining area—perfect for everyday living and entertaining. The dining room flows seamlessly into the spacious family room, where a cozy fireplace creates an inviting setting for relaxing evenings and gatherings. Down the hallway, you’ll find three well-sized bedrooms, including the primary suite. The primary bathroom features dual sinks and a walk-in shower, and the primary bedroom includes a sliding glass door with direct access to the side and backyard. The outdoor space offers generous side-yard and backyard areas with an installed gazebo, providing the perfect spot for entertaining, relaxing, or enjoying Canyon Lake’s beautiful weather. Canyon Lake is a premier resort-style community featuring a 525-acre private lake with wakeboarding and waterskiing, an 18-hole SCGA-rated golf course, lakefront pool and clubhouse, RV park, equestrian center, tennis, basketball, and pickleball courts, baseball fields, four beaches, nine parks, amphitheater, docks, bicycle pump track, senior center, 40+ clubs, and so much more—offering an unmatched lifestyle year-round.
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.
