This property has two homes on 5 acres with a three-car detached garage. Offering stunning desert views and incredible flexibility for multi-generational living, rental income, or a peaceful private retreat. The main residence is a spacious three-story home offering approximately 3,024 square feet with a fully finished basement. The home includes 4 bedrooms, 2 bathrooms, a bonus room, a living room, and a family room, creating a flexible layout for a variety of living arrangements. The main level features a full bathroom, laundry room, and a handicap-accessible ramp for added accessibility and convenience. Downstairs, the finished basement offers additional character with a built-in china and wine cabinet and a Hammond organ. The versatile floor plan allows the lower-level room to function as a primary bedroom, formal dining room, entertainment space, or potential rental area, depending on your needs. The home is topped with a durable Alcoa aluminum shingle roof designed for lifetime performance and styled to resemble tile. Outdoor living spaces include two covered decks and one open deck, perfect for enjoying the peaceful surroundings and breathtaking desert views. The property also features a separate 760-square-foot single-story guest home built in 2000. This charming second residence includes 1 bedroom, 1 bathroom, a family room, a breakfast nook, and a full kitchen. The home features a cozy wood-burning stove, is wired for cable and WiFi, and includes an interior sprinkler system for added safety. The guest home can come fully furnished if desired. The property includes a solar energy system with 25 panels wired to the main house with a very low monthly lease of $141, which is assumable. Both homes operate independently with their own septic systems, propane tanks, and electric meters while sharing water, supplied by a private well. Approximately 2.5 acres of the property are fenced, offering space for animals, outdoor projects, or additional privacy. Conveniently located just 0.2 miles from a paved road, approximately 25 minutes from Big Bear Lake, and 15 minutes from the Apple Valley shopping centers, this property offers the perfect balance of rural living with nearby amenities. This one will not last long. Schedule your private tour.
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.
