Back on market at no fault of the seller! Previous escrow was canceled due to buyer employment circumstances, creating a second opportunity to own this beautifully maintained original-owner home in the highly sought-after gated community of Canyon Lake. Featuring **34 PAID-OFF solar panels, over $50,000 in upgrades, a newer A/C system, remodeled primary bathroom, cozy original brick wood burning fireplace, a spacious level (hard to find in CL) backyard with mature fruit trees, and just a block and a half from the lake**, this move-in-ready home truly checks all the boxes. Step inside to discover a bright, open floor plan designed for both everyday living and effortless entertaining. The inviting living room is centered around a warm fireplace, creating the perfect gathering space for family and friends. The beautifully updated kitchen features quartz countertops with a huge island, a farmhouse sink, recessed lighting, updated hardware, newer appliances, new kitchen windows, and a new French door that seamlessly connects indoor and outdoor living. Offering 3 bedrooms and 2 bathrooms, this home has been thoughtfully updated with luxury vinyl plank flooring, fresh interior and exterior paint, and a beautifully remodeled primary bathroom. Additional improvements include a newer water heater, garage door and opener, and an owned security camera floodlight system, providing comfort, efficiency, and peace of mind. Step outside to your own private backyard retreat. The spacious, level yard offers endless possibilities with room for a pool, outdoor kitchen, play area, garden, or future entertaining space. Mature fruit trees add charm and character, while large, usable backyards like this are a rare find in Canyon Lake. Enjoy all that Canyon Lake has to offer, including private beaches, boating, fishing, golf, pickleball, tennis courts, parks, equestrian facilities, a clubhouse, pool, spa, campground, waterfront dining, and year-round community events. Move-in ready and available for a quick close, this exceptional home combines modern upgrades, energy efficiency, outdoor living, and resort-style amenities. Seller is motivated and welcomes a smooth, timely closing. Schedule your private showing today and discover why Canyon Lake living is unlike anywhere else!
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.
