PRICE IMPROVEMENT! Exceptional value on 1.67 acres of flat, usable land across 3 separate parcels in the heart of Descanso. This unique property offers rare flexibility and future potential for a family compound, ADUs, multi-generational living, hobby farming, or future expansion opportunities. Surrounded by mature Oaks, Redwoods, Sycamores, fruit trees, natural rock formations, and a picturesque creekside setting, this custom-built estate offers a rare combination of privacy, natural beauty, and country living. Ideal for horse and outdoor enthusiasts, the property offers equestrian potential with room for future corrals, barns, RV parking, gardens, and expanded outdoor recreation. Enjoy sustainable living with paid solar, a private well, lush landscaping, multiple water features, charming archways, and a brick fireplace courtyard designed for seamless indoor-outdoor entertaining. Inside, the home features 3 bedrooms plus an optional 4th bedroom or den, 3 full bathrooms, open-concept living spaces, vaulted ceilings with exposed beams and custom plank ceiling detail, oak and slate flooring, a dramatic river rock fireplace, and scenic views from nearly every room. A wraparound terrace overlooks the tree-lined grounds, while the private setting provides the perfect balance of seclusion and accessibility. Conveniently located near Cleveland National Forest recreation, hiking trails, local schools, shopping, and approximately 15 minutes from Alpine and Viejas Outlets, this one-of-a-kind property offers the serenity of rural living without sacrificing 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.
