* VIEWS * CRAFTSMAN STYLE HOME * NO SPACE RENT * OWN THE LAND * Welcome to this charming 3-bedroom home in the sought-after 55+ Warm Springs Knolls community. The property is on a permanent foundation, offering added value and convenient financing eligibility. A rare opportunity to own a home offering panoramic views from an oversized, covered back patio located just off the primary bedroom. Walking up to the home, you’ll be greeted by wide front porch stairs that lead to an oversized covered front porch featuring a ceiling fan. Step inside to a bright, open great room that seamlessly blends the living space, kitchen, and dining area, accented with crown molding, window sills, a paneled ceiling, and engineered wood flooring. The kitchen offers a large island with convenient barstool seating, enhanced by custom pendant lighting, along with ample cabinetry, generous Corian counter space, a pantry, dishwasher, and microwave. Walking down the extra-wide hallway, you’re led to the light-filled primary bedroom, where gorgeous views are immediately showcased through French doors opening to an oversized covered back porch. The primary bedroom is highlighted by a pan ceiling, crown molding, a walk-in closet, and a ceiling fan. The primary bathroom features a Corian countertop, a soaking tub, and a separate shower. This home also offers two additional bedrooms and a convenient laundry/mudroom. Step out to the backyard from the covered back porch, where artificial grass creates a low-maintenance space and a spot is ideal for a table and chairs to enjoy canyon and mountain views. The backyard also includes a garden box for your planting enjoyment, vinyl fencing lines the sides of the home for added privacy. The property features a generous covered carport with an expanded slab for additional parking or workspace, with two storage sheds for extra storage. The Warm Knolls community features a clubhouse with a pool, spa, kitchen, library, outdoor BBQ, and dining room. Additional features include fire sprinklers and 6-inch walls for enhanced insulation. This is a must see custom designed home!
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.
