Tranquility meets your forever dream home. Welcome to Pursh, a stunning 5-bedroom, 3-bathroom residence located in the highly sought-after area of Lake Elsinore’s, Canyon Hills. With 3,102 square feet of generous living space, this home sits on a 6,970 square foot corner view lot, offering picturesque views from every window. Upstairs features an enormous bonus room flooded with natural light thanks to an abundance of windows. This versatile space is perfect for a game room, media room, artist loft, or workout area—it's so spacious, you could easily use it for all your favorite every day activities. BEST PART: PAID OFF SOLAR WITH A BACK UP BATTERY TOO! The open floor plan includes a formal living room with a cozy fireplace and a formal dining room that can also serve as a den, library, or an office. The spacious kitchen features a center island and seamlessly flows into the inviting family room. For those needing a multi-generational style home, there is a downstairs bedroom and full bathroom or great for overnight guests. Sliding doors lead out to the backyard, where you can enjoy the scenic hills, lush green grass with an abundance of fruit trees. Start your mornings with coffee or unwind with a cold beverage as you take in the serene surroundings. The backyard boasts an Aluma wood patio with ceiling fans, making it the perfect setting for barbeques or memorable gatherings with friends and family. Pursh is conveniently located next to Christensen Community Park, the Meadow Clubhouse and Pool (one of three in the area), and Herk Bouris Elementary School. Everything you need is at your fingertips, including easy access to schools, parks, entertainment, shopping, and freeway entrances. Discover the vibrant lifestyle of Canyon Hills, which offers multiple pools, parks, walking trails, and sports courts for residents to enjoy. Come see this remarkable home and experience the welcoming vibe of Pursh and the friendly community that surrounds it. Welcome home—your forever dream awaits. Professional pictures coming soon.
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.
