Located at 56795 Mount Road in Anza, this updated single-story home offers 1,221 sq ft of updated living space on 2.5 fully usable and mostly fenced acres with sweeping valley and mountain views. Built in 1989 and positioned at the end of the road before a large, gated parcel, the setting provides added privacy with minimal through traffic. Recent improvements include a newer roof (Sept 2023), vinyl flooring, remodeled kitchen with replaced cabinetry and quartz countertops, and two remodeled bathrooms (all within the past 3 years). The kitchen includes a refrigerator that is approximately 3 years old, propane range, and dishwasher. Lots of great storage and open concept to a separated dining/family space with a newer wood burning stove and rear one light door leading to a raised wood deck with an included spa. The views from this space are gorgeous! Outdoor features include a separate fenced pet yard, a chicken coop and shed/carport. The property is well-suited for horses, gardening, or a variety of rural uses. Included in the sale is an approx. 675 SF Single-wide trailer ADU remodeled within the past 2 years offering a kitchenette, dining room, living room space, bedroom and storage room. Additional highlights include an attached two-car garage and convenient access to local amenities in Anza, including markets, hardware store, dining, and churches. Hamilton School is located nearby (walking distance). The beautiful Anza Valley delivers clean open space living that allows for peace and tranquility. Nearby surrounding areas include Palm Desert, Idyllwild and Temecula. Great location, not far from paved road and stunning views.
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.
