Welcome to this inviting coastal cottage in the heart of Long Beach, offering a rare blend of charm, functionality, and resort-style outdoor living. The main residence features 3 bedrooms and 3 bathrooms, thoughtfully laid out across approximately 1,159 sq ft, plus an approximately 270 sq ft detached studio with kitchenette located off the garage—ideal for guests, extended family, or flexible lifestyle use. Inside the main home, warm hardwood floors and abundant natural light create an open, welcoming atmosphere. The living room is rich with coastal character, highlighted by shiplap accent walls, a custom wood-framed fireplace, and designer surf-inspired details. The adjoining dining area flows seamlessly into the updated kitchen, featuring butcher-block countertops, a hex-tile backsplash, stainless steel appliances, and bold geometric flooring. A movable island adds versatility for everyday living and entertaining. The primary bedroom offers a tranquil retreat with a private ensuite bathroom and walk-in shower. Two additional bedrooms provide excellent flexibility, including one currently configured as a home office with its own attached full bathroom. A dedicated interior laundry room adds everyday convenience. Step outside to a truly special backyard—your own private oasis. Enjoy a custom rock-style pool with cascading waterfall, slide, and bridge, along with an expansive covered patio, string lighting, and multiple seating areas designed for year-round Southern California indoor-outdoor living. The detached studio located just off the garage includes a kitchenette and additional bathroom, creating valuable auxiliary space well suited for guests, creative use, or potential rental flexibility (buyer to verify permitted use and square footage). Additional highlights include central HVAC, updated bathrooms, ample driveway parking, and a welcoming front porch. Conveniently located near shopping, dining, and beaches, this turnkey property delivers comfort, character, and versatility—true Long Beach living at its best.
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.
