WONDERFUL SINGLE LEVEL DETACHED HOME IN SOUGHT AFTER GATE 11! This popular Villa Terraza offers two bedrooms, two baths, and an attached two-car garage with direct access through a large private courtyard finished in tile and framed by a pergola. A quiet interior setting opens to a lush greenbelt for extra privacy. Step inside to an open, light-filled living area with vaulted ceilings, crown molding, recessed lighting, and a lovely stacked stone fireplace. A long wall of custom cabinetry with a granite counter works perfectly as a serving bar, desk, or media space. Multiple sliders open to the covered back patio and greenery, ideal for morning coffee and easy entertaining. The upgraded kitchen is functional, featuring plentiful cabinetry, ample counter space, and a picture window overlooking the patio. It adjoins the dining area with plantation shutters and easy access to outdoor dining. The primary suite enjoys mirrored wardrobes, a slider to a private side patio, and a well-appointed bath with dual sinks and a granite countertop. The guest bedroom sits near the nicely updated hall bath with a stone shower and bench. Additional highlights include travertine-style flooring, wood floors in the bedrooms, smooth ceilings, central heat and air, inside laundry in the garage, abundant storage, and excellent curb appeal. Outdoor spaces you will love include the gated front courtyard, a peaceful covered back patio with a handy kitchen pass-through, and a sunny side patio off the primary suite. Add all this to the unmatched amenities of Laguna Woods Village, and you have a winning combination. Enjoy the 27-hole championship golf course and the 9-hole executive par three course, tennis, pickleball, paddle tennis, lawn bowling, two fitness centers, seven clubhouses, five swimming pools, an equestrian center, gardening areas, an art studio, a world-class woodshop, and more than 200 clubs and organizations. There is a free community bus service to nearby shopping, an economical RV storage area for easy RV parking, and you are approximately 6 miles from beautiful Laguna Beach. Country club living at its best and the best hidden secret in Orange County. SEE 3D TOUR
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.
