Welcome to this outstanding home built by a contractor for his own family in 2017. A great find with 4 bedrooms & 2.5 baths spanning over 2300 sq ft., this home is worth your consideration. Enter through the custom, designer metal front doors into the open living room, dining area and kitchen ~ the heart of the home. The great room feel is accented by the wood beam vaulted ceilings, the gas log fireplace, and custom built-in wood shelves and cabinets offering multiple storage options. Convenient access from the living area to the rear yard through the sliding glass doors makes indoor/outdoor living easy. The kitchen features stainless appliances, granite counters, a generously sized, centrally located island and an abundance of custom cabinetry including a pantry closet. You’ll find a thoughtful floorpan with primary bedroom plus a guest room located separately from the other 2 bedrooms. The spacious primary suite provides plenty of space to unwind, a walk in closet, soaking tub, and separate walk in shower ~ a welcome retreat at the end of the day. The additional bedrooms are ample sized with double door closets offering great storage space. The laundry room with built in cabinets, good counter space plus wash sink is positioned directly off the garage and 1/2 bath. To top off this wonderful property, there is an attached 3 car garage providing one bay with a 10' tall door and 26' depth for larger lake toys/boat/etc. The yards are low maintenance and offer room for you to put your personal touches on them and fulfill your own individual wants and needs. The large concrete patio off the living room, block retaining wall and fencing enclosing a portion of the yard and outdoor shower are already in place. Set in the desirable neighborhood of Lakeside Village inside the gated back entrance to the Heritage Ranch community at Lake Nacimiento. Amenities in the association include lake access, launch ramp, equestrian center, pickle ball/tennis courts, 2 pools, playground areas, trails, and so much more. Convenience is added with Oak Hill Market, restaurants and a gas station close by - save gas and shop local. The opportunity is now - don’t miss your chance to view this terrific property!
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.
