This beautiful West Palmdale home, located in the prestigious Rancho Vista Golf Course community, offers 3,146 square feet of refined living space with 5 bedrooms & 4 bathrooms, including a full bedroom & bathroom downstairs. The front of the home is professionally landscaped & truly breathtaking, featuring a cascading river, mature pine trees, and a charming bridge that leads to the front entry an exceptionally serene and inviting setting.The tandem 3-car garage is fully finished & includes an insulated garage door. Inside, tile flooring flows throughout the entire downstairs, beginning in the formal living area & continuing into the elegant formal dining room, which is separated from the kitchen by a butler's pantry complete with a built-in bar & coffee station. The kitchen is a chef's dream, offering two granite center islands, granite countertops throughout, abundant cabinetry, a walk-in pantry, & an open layout that connects seamlessly to the spacious family room with a cozy fireplace. A separate flex space off the kitchen & family room features sliding glass doors leading to the backyard, making it ideal for a game room, playroom, or additional living area. The downstairs bedroom & full bath function as a private suite, & an additional guest bathroom is conveniently located on the main level. Upstairs, the oversized primary suite showcases beautiful views of the Valley lights, while the primary bath includes a soaking tub, separate shower, & dual sinks. Three additional bedrooms are generously sized, and the hallway offers a built-in desk area perfect for work or homework. The large upstairs laundry room includes a sink for added convenience. The backyard is a peaceful retreat with two unique patio areas crafted from wood imported from a burn site in New Mexico, creating a rustic & tranquil atmosphere ideal for entertaining or relaxation. The yard also includes 240V wiring for a spa, & the home is equipped with 2000CFM a whole-house fan for added efficiency.
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.
