Price Improvement! Experience the perfect blend of country living, modern comfort, and equestrian lifestyle on this turnkey approximately 2.5-acre ranchette in the scenic hills of Menifee. Ideally located just 25 minutes from Temecula Wine Country and close to recreational lakes, trails, shopping, dining, and schools, this exceptional property offers privacy, functionality, and breathtaking views. Built in 2018, the custom-designed home features 3 bedrooms, 2.75 bathrooms, and a flexible bonus room ideal for a home office, guest room, gym, or creative space. The open-concept floor plan is designed for everyday living and entertaining, while the spacious primary suite offers a walk-in closet and private ensuite bath. Enjoy peaceful mornings on the covered front porch and unforgettable sunsets from the expansive rear deck overlooking the turfed yard and rolling countryside. Modern infrastructure includes a 4-car insulated garage with epoxy floors and private well. The property is fully fenced with attractive vinyl fencing reinforced by metal posts and no-climb wire fencing. A remote-controlled electric entry gate and multiple access points provide both convenience and seclusion. Designed for horse and livestock enthusiasts, this well-appointed property includes a 4-stall pipe barn with individual outdoor access, covered pipe-panel stalls, a custom welded-wire stud pen, tack shed with wash rack, and adjustable round pen. The approximately 150' x 80' arena features customized mixed footing suitable for multiple riding disciplines. Additional improvements include custom-built sheds, mature trees, and RV electricity is nearby. Step beyond the gate and enjoy direct access to miles of trails and rolling hills perfect for horseback riding, hiking, mountain biking, dirt biking, and ATV adventures. Despite its peaceful rural setting, everyday conveniences are just minutes away, with easy access to both San Diego and Los Angeles. Whether you're seeking an equestrian retreat, hobby ranch, outdoor recreation property, or simply more space to live and breathe, this exceptional property delivers a lifestyle that is increasingly hard to find.
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.
