Style, comfort, and thoughtful upgrades come together at 5303 Carrizo Road in Atascadero, just minutes from town, Trader Joe’s, and convenient 101 access. A cobblestone pathway leads to the front door, where a charming composite porch, sprawling lawn, and gated entry with automatic gate create a welcoming first impression. The property is level and offers abundant parking, including RV parking with full hookups. Inside, the home features a warm and inviting layout with real hardwood flooring, updated lighting, and well-designed living spaces. The living room showcases stylish tile flooring, ceiling fans, and a wall of windows with sliders opening to the backyard for seamless indoor-outdoor flow. The kitchen has been tastefully updated with quartz countertops, shaker cabinetry, stainless steel appliances, a 5-burner stove, tile backsplash, and open shelving, all opening to the main living area. The dining space features updated lighting, while the hall bathroom has been renovated with solid surface counters, shaker cabinetry, and a tub/shower combination. Two guest bedrooms offer hardwood flooring and ceiling fans. The primary suite is a comfortable retreat with vaulted ceilings, ceiling fan, views of the backyard, and an updated en suite featuring custom tile, glass shower, quartz countertops, shaker cabinetry, and a private toilet area. The backyard is designed for both everyday enjoyment and entertaining, featuring a covered concrete patio with gazebo, additional paver patio, and café lighting. Mature trees and a variety of fruit trees, including orange, avocado, apple, lemon, and plum, enhance the setting. Additional features include a fenced and irrigated garden, multiple storage sheds, turf play area, and a custom playfort with slide, all within a fully fenced yard. Additional highlights include a 24-panel owned solar system, mini split system plus central AC with smart capabilities, electric heat, updated windows, whole house water filtration, and even smart irrigation. Designed for comfortable everyday living with space to relax, gather, and enjoy the Central Coast lifestyle... all just minutes from amenities, in a charming rural neighborhood! Call today to schedule your private showing!
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.
