Welcome to 26004 Marjan Place - eligible for a unique homebuyer assistance program providing qualified buyers up to $10,000 to cover closing costs, rate buy-down and/or down payment! A unique single-family detached home built in 2016 that perfectly blends privacy with modern efficiency. This home stands independently with no common walls! On the entry level, direct-access to the two-car garage offers ample storage cabinetry, a laundry area, a 220V outlet for electric vehicle charging. Moving to the second floor, you are greeted by a chic, open-concept living space designed for contemporary lifestyles. The gourmet kitchen flows effortlessly into the dining and living areas, creating an airy atmosphere that extends outdoors to a large private balcony. This level also features a convenient powder room. The top floor serves as a dedicated retreat, housing two well-appointed bedrooms. The primary suite features French doors that open onto a second spacious balcony. Both bedrooms share a Jack-and-Jill bathroom with separate shower and deep jetted bathtub. Throughout the home, comfort and convenience are prioritized with high-end features, including a multi-zone mini-split climate system, a tankless gas water heater, stainless steel appliances, and integrated security cameras. This is a rare opportunity to own a stylish, detached residence that offers the best of modern urban living with easy access to stores, restaurants, parks and the 110 Freeway.
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.
