Gorgeous equestrian estate in the prestigious La Cresta community, showcasing a grand gated entry and timeless architectural elegance. A picturesque approach leads to a circular driveway atop the hill, framed by mature trees and manicured landscaping, welcoming you to the impressive 4-bedroom, 4.5-bath residence. Inside, expansive living spaces include a formal living room with soaring two-story ceilings and fireplace, a spacious family room with wet bar and custom fireplace, and a gourmet kitchen with granite countertops, stainless steel appliances, Sub-Zero refrigerator, double ovens, and 6-burner cooktop, adjoining a large dining area. The main level offers a private office with custom wood desk, a bedroom with en-suite bath, guest bath, and a laundry room with outdoor access. Upstairs, the primary suite features a fireplace, private balcony, and expansive bath with dual walk-in closets, large shower, soaking tub, dual sinks, and ample counter space. Two additional bedrooms, each with their own baths, complete the upper level. French doors open to a resort-style backyard with a recently replastered pool and spa, updated equipment, lighting, waterfall feature, fire pit, built-in BBQ, and Alumawood patio cover. The 5-acre grounds are fully fenced and offer a 4-car garage, exterior lighting, and security system with cameras and gated entry. Landscaping is irrigated by private well with smart system; the home is on city water. Additional features include RV hookups, generator hookup panel, septic for house and barn, and solar-ready infrastructure. A seasonal stream runs through the property. Equestrian amenities include a recently updated 3-stall barn, arena, round pen, paddock, and wash rack with hot water. Barn features include a tack room, sink, and bathroom with washer hookup. Additional living spaces include a remodeled approx. 1,000 sq ft 1-bedroom guest house with full kitchen and updated bath, and an approx. 800 sq ft 1-bedroom caretaker apartment above the barn with 3/4 bath and in-unit laundry. The property also includes a goat enclosure, equipment storage, and a gated garden. Mature fruit and nut trees include apple, pear, peach, nectarine, apricot, cherry, plum, citrus, avocado, and pecan. See list of upgrades. Rare opportunity offering space, functionality, and convenience just minutes from shopping, dining, and freeway access. ** Professional pictures and virtual tour will be uploaded 5/16.**
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.
