Welcome to a lovingly-restored 1898 Victorian cottage, straight out of a vintage storybook and located within the La Verne Street Historic District, one of Redlands’ most cherished and walkable neighborhoods. This special enclave is part of the historic Altadena Tract - Redlands’ first subdivision - offering a rare opportunity to own a meaningful piece of the city’s architectural legacy. Inside, restored hardwood floors, picture rail molding, and wide cased openings with period trim highlight the home’s Victorian roots, while abundant natural light enhances the warm, inviting layout. Two comfortable bedrooms are located on the main level, with a sunlit loft offering flexible use as a third bedroom, home office, or creative retreat. The dining room is a standout, featuring original built-in cabinetry with crown molding, classic picture rail trim, and a distinctive architectural chimney breast that adds depth and historic character. The space connects seamlessly to the living room, creating an ideal flow for everyday living and entertaining. The kitchen blends farmhouse charm with modern function, offering a farmhouse sink, subway tile backsplash, and thoughtful updates, while dual pane windows throughout provide comfort and energy efficiency. The remodeled bathroom fully embraces the home’s historic soul, showcasing a classic clawfoot tub with vintage-style brass exposed plumbing, period-inspired fixtures, and timeless tilework that balances old-world character with contemporary convenience. Situated on a rare oversized lot with R2 zoning, the outdoor space offers exceptional versatility — room for toys, RV or boat parking, future expansion, or potential ADU conversion (buyer to verify). A detached garage adds additional flexibility for storage or future use. All of this is just a short stroll to South Redlands and Downtown, surrounded by award-winning schools and boutique food and shopping, with easy access to Prospect Park, Smiley Library, the Redlands Bowl, local shops, restaurants, and year-round community events. This is a rare chance to own not just a home, but a true chapter of Redlands history, thoughtfully preserved and ready for its next story.
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.
