Come home to a turnkey, newly remodeled single story 4 bed, 2 bath POOL HOME on a quiet tree-lined street. Enjoy comfort and convenience with a private backyard with multiple shaded areas for relaxing or entertaining, a 55 ft RV driveway, and easy access to freeways, restaurants and entertainment in downtown Covina. Enter from an expansive covered front porch and into a spacious open-concept living room with vaulted ceilings, recessed lighting and a cozy fireplace that anchors the room with a warm, inviting atmosphere. A brand new sliding door from the dining room opens directly to a paved patio — perfect for al fresco dining and enjoying barbecues with a built-in charcoal BBQ grill. The kitchen offers a clean, modern feel with granite countertops, industrial pull down faucet and a full suite of brand new stainless steel GE appliances. Thoughtful touches like modern black hardware, ceiling fans, and recessed lighting throughout add both style and function. The spacious primary suite features a stylish barn door entry and an en-suite bathroom with quartz countertops, backlit dimmable mirror with adjustable color lighting and a frameless glass shower with marble tile flooring, a shower niche, a built-in bench seat, and a dual shower head. The second bathroom is updated with elegant subway tile, quartz countertops, a shower niche and its own backlit dimmable mirror. Two additional bedrooms provide great natural light and generous closet space with flexibility to use them as an office or playroom. The private backyard is designed for year-round enjoyment, with a newly replastered pool featuring a color-changing pool light—complemented by a lighted covered pavilion ideal for entertaining or relaxing in the shade. The covered laundry area offers flexibility with potential to enclose with a storage shed. The attached garage adds convenience and security, complete with a new garage door and opener. This home is ideally located just minutes from the 210, 57, and 10 freeways, shops and restaurants in downtown Covina, parks, hiking trails, and golf, only 1/2 mile from Hollenbeck park, and 1 mile from Walmart Supercenter, Lowes, Home Depot, and Downtown Covina! Benefit from high Greatschools.org ratings for Las Palmas Middle School 8/10 and Northview High School 7/10! Whether you’re looking for a starter home or a forever home, this one checks every box. Fully remodeled and move-in ready—this is the home you've been waiting for.
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.
