Own a Piece of Ontario History! Built in 1890, this charming historic Craftsman offers a rare opportunity to restore and personalize a true architectural gem. Situated on a 6,140 square foot corner lot, this spacious two-story home features 5 bedrooms, 3.5 bathrooms, and approximately 2,715 square feet of living space filled with character and timeless details. Step inside to discover stunning wood-beam ceilings in the formal living and dining rooms, showcasing the craftsmanship of a bygone era. The flexible floor plan includes one bedroom and 1.5 bathrooms on the main level, making it ideal for guests, multi-generational living, or a home office. Upstairs, you'll find generously sized bedrooms, including one with a private balcony overlooking the backyard. A sunroom offers additional space and endless possibilities, ready to be brought back to life with your vision and creativity. There is also a California basement with endless possibilities! Additional features include an interior laundry area and ample room to create your dream home while preserving its historic charm. Conveniently located near Downtown Ontario's vibrant dining, shopping, and entertainment scene, and just minutes from the 10 Freeway, this property combines historic appeal with everyday convenience. Whether you're a restoration enthusiast, investor, or buyer looking for a unique home with incredible potential, this is a rare chance to own a piece of Ontario's rich history at an exceptional value. Don't miss this opportunity to make this historic treasure shine once again!
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.
