Located within the desirable gated community of California Chateau, this stunning residence offers 4 bedrooms plus an office and loft, combining elegant design with thoughtful functionality. Custom upgrades are showcased throughout, beginning with the beautifully remodeled chef's kitchen featuring Viking appliances, including oversized double oven, expansive stovetop, granite countertops, and a large center island with striking waterfall edges. Custom cabinetry with soft-close drawers, along with extensive custom woodwork and crown molding, add warmth and sophistication to every space. The kitchen is perfectly positioned to overlook the expansive family room, showcasing a striking floor-to-ceiling stone fireplace and dramatic two-story ceiling. The home has been thoughtfully enhanced with newer windows, a newer HVAC system with updated ducting, and high-end air filtration, ensuring comfort and efficiency year-round. The spacious primary suite serves as a private retreat, highlighted by a custom plaster accent wall framing a cozy fireplace, private balcony, and breathtaking views. The remodeled primary bathroom offers spa-like luxury with custom cabinetry, dual sinks, granite counters, a freestanding soaking tub, and an oversized travertine step-in shower. Designed for both relaxation and entertaining, the resort-style backyard is an entertainer's dream. Enjoy a covered patio, built-in barbecue with recently refinished countertops, fire pit, in-ground pool and spa, cabana area, and even a half-court basketball setup. Completing this exceptional property is a 3-car garage with a rare mechanic's pit, ideal for car enthusiasts, hobbyists, or additional storage. This remarkable home offers luxury living at its finest.
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.
