Moments from the Bolsa Chica Wetlands, Huntington Harbour, and the coastline, this beautifully designed two-bedroom, two-bath plus Den condo is located in the sought-after Villa Milano community. Situated in a friendly, well-maintained HOA, this villa offers charm, comfort, and convenience. With HOA dues well below many nearby communities, Villa Milano stands out for its strong financials, including approximately 65% funded reserves, a solid balance sheet, and no current special assessments. Step inside to a thoughtfully designed and flexible floor plan. The light-filled living room is centered around a cozy fireplace and complemented by seamless vinyl wood flooring throughout the main living areas. Dual primary suites provide exceptional privacy. The larger suite serves as a private retreat with direct balcony access and an ensuite bath featuring dual sinks, quartz countertops, a soaking tub, and a separate shower. The secondary bedroom also offers private bathroom access, with an additional entry from the main living space for guests. The remodeled kitchen is both refined and functional, featuring high-end cabinetry, granite countertops, stainless steel appliances, and a spacious pantry with pull-out storage. Adjacent to the kitchen is a bright dining area with room for a table and hutch or buffet. Just beyond the kitchen, a versatile den provides flexibility for a home office, secondary living space, or potential third bedroom. Step outside to the private balcony to enjoy coastal breezes and peaceful mountain views. Additional highlights include central air conditioning, plantation shutters, newer windows, and in-unit laundry. Parking and storage are exceptional, with two side-by-side spaces in a secure subterranean garage, a large walk-in storage locker directly in front of the spaces, and approximately 10 guest parking spaces for this 33-unit building. Elevator access extends from the garage to all levels. The community offers a tranquil, resort-like setting with lush landscaping, community fruit trees, a serene fountain courtyard, pool, spa, and two gas BBQ areas. Ideally located near Ralphs, Trader Joe’s, shopping, dining, and convenient freeway access, this home is just moments from Bolsa Chica Ecological Reserve, scenic walking trails, Bolsa Chica State Beach, and Sunset Beach, offering an ideal blend of everyday convenience and easy coastal access.
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.
