Welcome home to this adorable end-unit highly upgraded condo featuring sun-drenched rooms, added privacy, and a highly convenient location near the entrance to the Community. The spacious main living level, just one flight up, offers two bedrooms, both with upgraded bathrooms, along with a bright and inviting living room complete with a cozy fireplace. Step outside to your private balcony, perfect for enjoying fresh air and outdoor relaxation. The dining area sits adjacent to the redesigned kitchen, which features stainless steel appliances, Quartz countertops, gorgeous backsplash tiles, abundant cabinetry, and generous storage options. Upstairs, the versatile loft provides flexible living space that can easily function as a third bedroom, guest room, or a comfortable home office. It also opens to an amazing second private deck with privacy walls—ideal for pets, sunbathing, or creating your own outdoor oasis. There are ceiling fans in all rooms for maximum air flow, and the HVAC unit is only two years old. An oversized two-car garage is just steps away, adding convenience to this quiet and desirable setting. The HOA includes water and trash, and residents enjoy wonderful community amenities including multiple pools and beautifully maintained grounds. Located near Irvine Spectrum, scenic walking and hiking trails, and just minutes from many of Orange County’s beautiful beaches, this home also offers quick freeway access, making it easy to reach destinations throughout Orange County.
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.
