Welcome to 549 Palomar Circle, an exceptional residence offering one of the largest and most desirable floor plans in the highly sought-after Providence Landing community. This expansive 5-bedroom, 4-bathroom home is thoughtfully designed to deliver both refined living and effortless functionality. The upper level features a luxurious primary suite complete with a spa-inspired bath, including a soaking jacuzzi tub, separate sit-down shower, and an oversized walk-in closet. A secondary bedroom offers a private en-suite bath and balcony, while two additional bedrooms share a well-appointed Jack & Jill bathroom. Bedroom three also features a discreet entrance to an approximately 200 sq ft finished bonus room—ideal for a media room, playroom, or private retreat. A convenient upstairs laundry room with utility sink and included gas dryer, along with ample linen storage, completes the level. On the main floor, versatility and elegance come together with a private study/den featuring French doors that open to a charming front patio, a formal dining room, and a guest bedroom with adjacent full bath—perfect for visitors or multi-generational living. The gourmet kitchen seamlessly connects to the breakfast nook and spacious family room with a cozy wood-burning fireplace, creating an inviting open-concept environment ideal for entertaining. The outdoor setting is equally impressive, showcasing beautifully curated landscaping with mature avocado, lemon, lime, and orange trees, as well as table grapes and vibrant flowering accents. The expansive backyard is designed for gatherings and relaxation, highlighted by a generous patio, a 32' x 12' shaded pergola with ceiling fan, gas grill hookups, and a spacious side yard. Additional amenities include an oversized three-car garage, a large storage shed, and a greenhouse, offering exceptional space for storage, hobbies, and more. Ideally located within walking distance to Providence Landing Park, clubhouse, and pool, and just minutes from Vandenberg Village Center, Vandenberg Space Force Base, shopping, dining, and coastal attractions. With convenient access to destinations such as Solvang and Pismo Beach, this home offers a rare combination of space, comfort, and location. A truly distinguished offering in one of Lompoc’s premier neighborhoods.
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.
