Behind the gates of Cyprus Cove, at the end of a cul-de-sac, sits a timeless Stanford Colonial just moments from the beach. Defined by classic brickwork, elegant symmetry, and architecture that never goes out of style. A brick pathway leads to a welcoming Dutch door and gracious entry, where black-and-white checkered marble floors, soaring ceilings, and custom solid wood millwork set the tone for a residence rooted in heritage and design. Simple classical detailing and balanced scale create a sense of architectural integrity rarely found today. At the heart of the home lies a kitchen designed to stand the test of time. Evoking the elegance of Colonial Revival architecture, it features striking black-and-white marble floors and countertops, dual Sub-Zero refrigeration, an expansive island, and a dramatic 60-inch Garland range. The main level unfolds into beautifully proportioned living spaces, including formal living and dining rooms, a spacious family room, media room, and a distinctive poker parlor with wet bar—ideal for both everyday living and elevated entertaining. Two staircases lead to the private quarters, where the primary suite offers a fireplace, generous walk-in closet, and ensuite bath, complemented by two additional bedrooms and a second-floor family room. A third staircase leads to two additional bedrooms and a full bath, offering a sense of separation ideal for guests, extended family, or flexible living. Outdoors, generous brick patios and an in-ground jacuzzi create a relaxed coastal retreat, surrounded by mature landscaping and a private backyard setting. A rare side yard offers potential for a sports court or additional parking for a boat or RV. Residents of Cyprus Cove enjoy private beach access, a clubhouse, tennis courts, park, and pool—all just minutes from world-famous Trestles surf break, downtown San Clemente, and the coastal beach trail. Classic in spirit, rich in character, and quietly luxurious, this iconic Stanford Colonial features soul, scale, and enduring appeal.
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.
