Nestled in the heart of Rancho Vista Estates, Gorgeous Views, Owned Solar, Low Tax, Low HOA and a Beautiful Pool. This exquisite home invites you to indulge in its unparalleled beauty. As you approach, the majestic double doors welcome you into an expansive, light-filled sanctuary adorned with high vaulted ceilings and a stunning grand staircase that commands attention. The rich elegance of the wood floors complements the airy ambiance, creating a harmonious blend of comfort and sophistication.This residence, perfectly positioned on an elevated cul de sac lot, offers not only exquisite interiors but also breathtaking vistas of the city skyline, where, at times, you may catch a glimpse of graceful hot air balloons dancing in the sky. The thoughtfully designed layout encompasses a generously sized bedroom and a full bathroom on the first floor, providing ease and convenience for guests or family. As you ascend to the second floor, you will discover four spacious bedrooms, each a retreat of its own. The primary suite is a veritable oasis, boasting sweeping views from its private balcony and the warmth of a cozy fireplace, creating a perfect setting for quiet evenings or lively gatherings. Enjoy low energy bills with owned solar panels and whole house fan. Low Tax and Low HOA. *There is an Assumable VA Loan at 3.25% interest rate; only with a substitution of entitlement. *Some Images have been virtually staged to showcase the potential of the home*
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.
