Discover this beautifully updated California Ranch-style home with Craftsman-inspired architectural details, ideally situated in the sought-after El Nido neighborhood of North Redondo Beach. Originally built in 1953, this thoughtfully maintained 3-bedroom, 2-bath home with detached garage features a spacious and versatile floor plan, including a formal living room, family room with fireplace, dining area, updated kitchen, dedicated laundry room, all thoughtfully designed to embrace the best of South Bay living. From the moment you arrive, you'll appreciate the home's attractive curb appeal, mature landscaping, drought-tolerant gardens, and inviting architectural details. Inside, freshly painted interiors, refinished hardwood floors, recessed lighting, and newer dual-pane windows create a warm and welcoming atmosphere throughout. The beautifully designed kitchen serves as the heart of the home, featuring custom cabinetry, stone countertops, stainless steel appliances, abundant storage, and a spacious peninsula ideal for gathering and entertaining. Adjacent to the kitchen, the dining area and inviting living room create comfortable spaces for everyday living and special occasions alike. Beyond the living room, the spacious family room features a charming fireplace and provides seamless access to the enclosed patio and beautifully designed backyard retreat, creating the ideal indoor-outdoor lifestyle. Step outside to discover multiple outdoor living spaces designed for entertaining and relaxation. The expansive hardscape patio, mature trees, drought-tolerant landscaping, ambient string lighting, and additional outdoor gathering areas create a peaceful and private setting to enjoy Southern California's year-round climate. Additional amenities include a dedicated laundry room, detached two-car garage, generous driveway parking, and thoughtfully maintained grounds. Conveniently located near neighborhood amenities, enjoy easy access to local coffee shops, grocery stores, fitness centers, restaurants, and popular destinations such as HopSaint Brewing Company, South Bay Village, and the Torrance Promenade. Outdoor enthusiasts will appreciate the proximity to parks, recreation, and the beaches and waterfront destinations of Hermosa Beach and Redondo Beach. Located within the Redondo Beach Unified School District and conveniently situated near Washington Elementary School and Adams Middle School (buyer to verify attendance boundaries), this home also offers convenient access to major South Bay employment centers, including aerospace, technology, healthcare, education, and professional services industries. Surrounded by tree-lined streets and ideally positioned near beaches, parks, shopping, dining, and employment centers, 2500 Armour Lane presents a rare opportunity to experience the best of South Bay living in one of North Redondo Beach's most established neighborhoods.
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.
