Spanish-style single-story on nearly half an acre — mountain views, established fruit orchard, and the west-side address Redding buyers ask for. 3BD/2BA, 1,691 sqft, no HOA. The 1,691 sqft layout is open and bright, with vaulted ceilings, dual-pane windows, and central AC installed in 2024. Double front doors open to a formal dining room and family room with fireplace. The kitchen sits at the heart of the home — butcher block counters, breakfast bar, and a side-by-side washer/dryer tucked behind accordion doors. Three sliding glass doors in the family room, kitchen, and primary suite open straight to the backyard. Newer interior doors, LED lighting throughout, updated bathroom fixtures, and a 2-car garage. The backyard is the headline. Nearly half an acre with an established fruit orchard — grapefruit, lemon, lime, pear, apple, and orange. Two mature eucalyptus throw shade across five organically-fed garden beds ready to plant. Room for boat or RV parking, space for a future pool or workshop, and a small front patio that catches the morning light. Tile roof inspected 2022, no active issues. AB 38 defensible space inspection in progress; full disclosure package available on request. Quiet west-side street, minutes to parks, schools, trails, Whiskeytown Lake, and downtown Redding.
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.
