Welcome to this exceptional home in the highly desirable gated community of Sonora Wells! Offering 5 bedrooms and 4 bathrooms across 3,517 square feet, this spacious residence delivers comfort, versatility, and income potential -- and is currently the best-priced home of its size in the community.The main home features 4 bedrooms and 21/2 bathrooms with a thoughtfully designed layout that blends open-concept living with elegant, defined spaces. A formal living room with a cozy fireplace creates an inviting setting for conversation and gatherings, while the separate dining room is perfect for hosting special occasions. The generous family room -- also featuring its own fireplace -- opens to the kitchen, creating a warm and welcoming space for everyday living and entertaining.An open room off the living room offers endless possibilities and can easily accommodate a pool table, game room, media room, or hobby space.The kitchen is well-appointed with abundant cabinetry, ample counter space, and seamless flow into the main living areas, making it ideal for both casual meals and larger gatherings.One of the standout features is the large detached casita serving as the fifth bedroom. Complete with its own private bathroom and ample closet space, this private suite is ideal for guests, multigenerational living, a home office, or rental income potential -- offering exceptional flexibility and privacy.Step into the backyard designed for true desert entertaining. Enjoy the built-in BBQ Island, cozy fire pit for evening gatherings, and ample patio space to relax or host under the beautiful Indio skies.Residents of Sonora Wells enjoy amenities including a community pool and spa, clubhouse, park, and playground, all conveniently located near shopping, dining, golf, and easy freeway access.This is a rare opportunity to own a spacious entertainer's home with a detached casita in an amazing community -- all at an exceptional value. Schedule your private showing today!
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.
