One or more photo(s) has been virtually staged. Built in 2021, and loaded with nearly $70,000 in upgrades, this south facing home stands out from the typical options in the area with thoughtful improvements already done and ready for the next owner to enjoy. Best of all, the sale includes a 4 seater electric golf cart, making for easy and fun commutes to the clubhouse and the famous lagoon. From the moment you arrive, the curb appeal immediately sets the tone with lush upgraded landscaping, accent uplighting, and a retractable front screen door to let the breeze. The backyard was designed to be enjoyed year round with an extended screened lanai and oversized backyard screen enclosure that alone cost over $18,000 to add, which included a massive 37 x 20 extended patio featuring an epoxy coated slab that creates a clean finished look rarely found in nearby homes. Inside, the upgrades continue throughout with crown molding, upgraded flooring, custom paint, quartz countertops, upgraded kitchen sink, backsplash, accent lighting, custom drapes, master closet build outs for improved storage and organization, and accordion style doors that provide privacy for the flex room when needed. The kitchen and laundry setup alone represent a major value add, featuring over $8,000 in LG Smart appliances including the refrigerator, stove, oven, microwave, washer, and dryer, and dishwasher plus an additional refrigerator that will remain in the laundry room. Additional improvements include a water softener system, drip irrigation system for potted plants, generous garage storage space, epoxy coated garage flooring, and a fully custom rolling workbench ready for projects, hobbies, or extra workspace needs. Located inside Mirada Lagoon, residents at Medley enjoy access to the famous year round 15 acre lagoon along with Medley’s private clubhouse / amenity center and a truly maintenance free lifestyle where lawn care, internet, and cable are all included, giving you more time to enjoy the community instead of maintaining a home. HOA and community related fees average approximately $522.60 / month, which includes Mirada Master Association ($271.09 quarterly), Lagoon Access ($130.07 quarterly), Medley HOA ($234.90 monthly), and Medley Club ($153.98 monthly), providing access to the private Medley clubhouse amenities and the year round Mirada Lagoon. Schedule your private showing today before this one is 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.
