Welcome to this gorgeous updated 5 bed, 3 bath Auberry gem! This split level, Cape-cod style home adds a touch of architectural class to the area w/ it's absolutely stunning facade & an abundance of outdoor gathering space, outdoor fireplace, & plenty of parking space perfect for entertaining. Sitting on 4.7 acres, this property has a gated entrance. The sizable gathering space is set amidst carefully placed landscaping & cozy sitting areas under mature shade trees. Step up onto the front porch where the sunset views are absolutely breathtaking from the wrap around porch. Upon entering the front door, visitors discover high ceilings and an abundance of natural lighting throughout a clean, well-kept home. This area was added in 2008 and has central heating and air. The kitchen is open and elegant, with custom cabinetry, stainless appliances, & plenty of counter space. The adjacent hall pantry adds extra storage. Down the hall you'll find the main bedroom with 2 additional bedrooms. An exit door in the main bedroom allows access to the porch and courtyard for effortless indoor-outdoor living. The primary bath is large, with an oversized clawfoot tub perfect for soaking, as well as an enclosed shower. You won't have to wait for the hot water since the home is equipped with a newly installed hot water circulator. Cozy up in the living room by a newly installed EPA certified, wood burning stove that lights at the push of a button. This home gets the perfect amount of snow a few times each year, to make one feel they are in a Hallmark movie. Just past the living room you'll find the second area of the home, originally built in 1980 and completely rebuilt and renovated in 2018. This area includes additional storage space, large bonus room, 2 bedrooms (currently being used for an office and home gym), oversized laundry room, and the 3rd bathroom. This area is heated and cooled w/ a split system. This one-of-a-kind location is less than 1 mile from the best priced gas station in town (Mono), 9 min to Prather, 40 min to Clovis & River Park in Fresno. The home also features 2 septic systems, both w/ new caps, owned solar, a dog run w/ brand new antimicrobial artificial turf & drainage, a beautifully crafted chicken mansion, storage shed, animal barn, & peach tree. The well pump and piping were also replaced within the last year. The bus stop for Foothill Elementary and Sierra high Schools is also located at the 2nd gate. Owned solar. Priced to sell as is.
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.
