Extraordinary chance to own a distinctive mountain property at an incredible value. With a huge recent price reduction and motivated seller, now is the time to bring your offers and experience the magic of Palomar Mountain living! Mountain Rose ~ A rare opportunity to own an enchanting mountain retreat on beautiful Palomar Mountain now offered with a significant recent price improvement! Seller is highly motivated and encouraging all offers, making this an exceptional value and one of the most affordable opportunities to enjoy the coveted mountain lifestyle. Whether you are searching for a full-time residence, weekend getaway, or investment opportunity, this is a great buy with endless charm and potential. ~Set on a scenic 0.79-acre parcel with breathtaking westerly views stretching toward the distant ocean on clear days, this thoughtfully designed 1,760 sq. ft. home blends timeless character, artisan craftsmanship, and mountain serenity. Featuring two bedrooms, three baths, and a versatile bonus room ideal for guests, a home office, studio, or creative retreat, the flexible floor plan comfortably adapts to a variety of lifestyles. ~Warmth and personality radiate throughout the home. Three inviting fireplaces create cozy gathering spaces across multiple living areas, while a charming parlor and dedicated reading nook offer quiet places to relax and unwind. The spacious updated kitchen and dining area feature modern conveniences, generous storage, and a walk-in pantry, creating an inviting setting for entertaining or peaceful mountain living. ~Originally built in 1948 and thoughtfully expanded in 2005 by a respected local craftsman, the home showcases exceptional artisan details including custom leaded glass accents, handcrafted tilework, and refined architectural touches that celebrate the propertys unique history and character. The multi-level design includes two private bedroom suites complete with spa-like soaking tubs, plus a third flexible room suited for a variety of uses. ~Outside, the property offers room to roam and enjoy the fresh mountain air with multiple parking areas, mature surroundings, and stunning sunset skies that paint the horizon each evening. Thoughtful upgrades including double-pane windows, durable cement siding, and refined interior finishes provide comfort, efficiency, and long-term durability. Property includes a Palomar Mountain Mutual Water Company share. ~Palomar Mountain is beloved for its peaceful setting, four-season beauty, and endless recreation. Explore nearby Palomar Mountain State Park, discover the famous Highway to the Stars, or visit the world-renowned Palomar Observatory, home to the historic Hale Telescope. Hiking, horseback riding, mountain biking, fishing, hunting, and endless outdoor adventure are all moments away.
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.
