PRICE CORRECTION ALERT: As the market heats up for our spring market, now is your opportunity to own in Cimarron Cove—one of Cathedral City’s most sought-after gated communities! This move-in ready 3-bedroom, 2.5-bath home offers the perfect blend of modern upgrades, energy efficiency, and resort-style living in the Coachella Valley. Step inside to a bright open-concept floor plan with soaring ceilings and elegant slate tile flooring, creating a spacious and airy feel. The upgraded kitchen is a true centerpiece, featuring granite countertops, a large center island, stainless steel appliances, upgraded cabinetry, and a built-in wine fridge—ideal for both everyday living and entertaining. The downstairs primary suite provides a private retreat with a walk-in closet and direct backyard access, while upstairs offers two generously sized guest bedrooms, a full bathroom, and a dedicated laundry room. Additional highlights include owned solar with a backup battery system for major energy savings, dual-zone HVAC (Heating, Ventilation, and Air Conditioning), a 2-car attached garage with storage, and included washer and dryer. The low-maintenance backyard is your own private escape, complete with a dipping pool and waterfall feature. Cimarron Cove residents enjoy resort-style amenities including a community pool, spa, BBQ area, basketball court, playground, and optional RV parking. Centrally located just minutes from downtown Palm Springs, golf courses, dining, and El Paseo shopping, this home checks all the boxes. Price improved and ready to go—schedule your private showing today before it’s gone!
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.
