Here’s the home you’ve been looking for! Single story + RV parking + Private Backyard with huge views! This beautiful home features a modern open-concept floor plan with beautiful plank flooring, contemporary kitchen with white "cape cod" style cabinetry, stainless appliances, slab granite counters and tastefully updated hardware including 3 beautiful pendent lights above the kitchen island and upgraded dining area light fixture. The large living area is perfect for modern living with the entire kitchen/family room/dining room joined together in one large area. The two secondary bedrooms are located up front and far from the master suite and feature ceiling fans and custom paint. The hallway features a large "flex room" that can act as a second living room for kids, an office, or whatever you might need the extra space for. The master suite features a large bathroom and a massive walk-in closet. The private back yard is huge and very private with no neighbors able to see into your yard and it features a spacious patio area, patio cover, artificial turf, large planter area and a storage shed. Perhaps the best part is the panoramic views to the west! This home also features a deep RV parking pad with lockable gate, and water/sewer hookups for your RV. The owner also pre-plumbed conduit and installed an outlet for 30AMP electric service (you will need to run wiring to complete.). Additional upgrades include a Quiet Cool whole house exhaust fan to help save on A/C costs in the summer; custom security doors, additional garage storage, window shutters along with custom interior paint. Built in 2017 this home sports loads of energy efficient features that are capped off by a PAID FOR solar panel system and tankless water heater. Located in Heritage Ranch, this home is close to walking trails, a sports park and is just minutes from shopping and freeway access as well as walking distance to the Menifee School District's coveted Harvest Hills STEAM Academy. Hurry, this highly desirable property won’t last!
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.
