The ease and style of townhome living are elevated to new heights at this move-in-ready Davenport residence with no one above or below in Ladera Ranch. Offering a rare and enviable corner location with it’s own Full Driveway, the charming Cape Cod-inspired home provides a welcoming introduction with a covered entry and a paver-finished front patio with timeless white picket fence. Enjoy barbecues with friends, socializing with neighbors, and relaxing to the sound of the breeze in the beautiful shade trees that embrace the home. Indoors, extra windows that only prime end locations offer allow added natural light to illuminate open living areas. Entertain in a bright living room, and host dinners in a casual dining room that flows directly to a spacious, fully appointed kitchen with upgraded cabinetry, a Walk-In Pantry and white ceramic-tile countertops. The two-story design measures approximately 1,296 square feet and features two ensuite primary bedrooms and two- and one-half baths. A powder room is located on the first floor, which also reveals a laundry room with cabinetry and an attached garage plus the Full Driveway. Upstairs bedrooms are highlighted by large walk-in closet in the main suite and a full bath and study nook in the secondary suite. A new oven, new hot water heater, tile flooring, recessed lighting and Tesla Charger in garage add extra appeal throughout, and a full HOA PEX RePipe lends peace of mind. The tree-lined neighborhood of Davenport is moments from a pool and playgrounds full of kids and life, top-rated schools for all grades, scenic parks, miles of beautiful trails, a skate park, newly renovated water park, multiple pools, clubhouses, tennis, basketball and pickleball courts. Ladera Ranch offers a full calendar of seasonal events, including summer concerts, winter holiday parties and a popular weekly farmers market. HOA dues include high-speed internet and front-yard landscaping maintenance.
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.
