UPPER RIDGE Corner Lot - with VIEWS! Quiet cul-de-sac private oasis that abounds with natural views, of nearby hillsides and trees -to clear mountain panoramas. Located in Stone Ridge Estates - tranquil and rural, nestled in the backcountry with beautiful mountains, surrounding wilderness, foothills, mature trees, ponds (including community-owned fishing ponds for catch-and-release), and a quiet, zen-like atmosphere. Residents remark that the environment feels like a mountain village, with a laid-back, country-living vibe. Affordable Active retirement 55+ Life! This immaculate 2 bedroom/2 bath home has a fully landscaped wrap-around yard that is fenced and ideal for pets, gardening and outdoor enjoyment. The remodeled kitchen seamlessly connects to the living and dining areas, and is loaded with custom cabinets and newer appliances. Beautifully maintained, this home offers open living spaces filled with exceptional natural light. A cozy corner wood burning fireplace anchors the family room between windows that reveal mountain peaks. The primary bedroom is roomy and inviting, complete with high ceilings and an ensuite bath. The secondary bedroom and bath provide a perfect setup for guests. An office or flex room off the family room is an ideal workspace, art studio, or workout room. Laundry room next to kitchen for total ease. Step outside to a peaceful covered deck patio and outdoor area made for unwinding and enjoying morning coffee, and spectacular sunsets. Manicured gardens contain multiple mature fruit trees, and herbs among floral foliage. Attached large carport adds convenience, while a detached shed is perfect for storing bikes and extra gear. Nearby trails are legendary for hiking and biking! Stone Ridge community offers exceptional amenities, including a heated saltwater pool, jacuzzi, ping pong and billiards, clubhouse, library, laundry, and more. HOA fees are only $372, including water, cable, sewer & trash.--this is a Land Owned community--there is NO Space Rent. No better Value in Southern California!! See it today!!!
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.
