Stunning Menifee Retreat with Paid Solar & RV Parking. Welcome to 28863 Horsetail on a cul de sac, a meticulously upgraded residence that perfectly blends modern efficiency with an ideal layout. Situated in one of Menifee’s most sought-after neighborhoods, this home offers the lifestyle you’ve been looking for in the heart of Southern California’s fastest-growing city. 4 spacious bedrooms and 3 full bathrooms, this floor plan is highly functional, featuring a convenient downstairs bedroom and full bath—perfect for guests or multi-generational living. Plus an upstairs loft/family room. The interior shines with updated flooring and elegant shutters throughout, providing a polished and cohesive feel and a gas fireplace. This home is designed for the savvy homeowner, featuring fully paid solar to keep energy costs at a minimum. Professional-grade electrical upgrades include 220V wiring and a dedicated 220V panel for a future spa. A high-quality water softener system is also included for ultimate comfort. The outdoor space is a true standout, designed for durability and utility. The backyard features a firepit, customized cement and artificial turf, with a covered patio and patio flooring reinforced with rebar for lasting quality. Additional highlights include, large 10x12 Storage Shed with 220V, fully functional and conveys with the property, parking galore with a 2-car garage paired with an extra-long driveway, RV ready side entry access with plenty of space for RV parking. Plus a Tesla Charger inside garage. Nestled in a prime Menifee location, you are just minutes away from top-tier shopping, dining, and easy freeway access, while still enjoying the quiet charm of a well-established community. Don’t miss your chance to own this turnkey, energy-efficient gem! Schedule your showing today. NO HOA!
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.
