Welcome home to this charming 3-bedroom, 2.5-bath move-in ready gem situated at the start of a peaceful cul-de-sac in the sought-after Vail Ranch community — and with no HOA, what you see is what you keep. From the moment you arrive, the brand new sod and fresh landscaping in both the front and back yard signal the level of care that's been put into this home. Step inside to a welcoming entry that flows seamlessly into a warm and inviting living room, perfect for gathering and relaxing. The kitchen features granite countertops and quality finishes, with a convenient half bath rounding out the thoughtful downstairs layout. Head upstairs to find all three bedrooms, including a comfortable primary suite that offers the privacy and separation every homeowner appreciates. Built in 1993 and spanning 1,480 square feet, the vaulted ceilings add an open, airy feel that makes the home live larger than its footprint suggests. Step outside and enjoy a good-sized backyard perfect for entertaining, kids, or pets, plus a side-yard dog run that makes life with your four-legged family members that much easier. And when you're ready to explore, you're just minutes from some of Temecula's best — world-class wineries, the historic charm and dining of Old Town, and the year-round entertainment of Pechanga Resort Casino. Families will love being zoned for the award-winning Temecula Unified School District, one of the most respected in all of Southern California. This home has the bones, the upgrades, the yard, and the location — it just needs you to make it yours.
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.
