Bring your vision and creativity to this attractively priced opportunity in resort-style Montebello! Ready for your personal updates and design choices, this spacious one-bedroom residence offers excellent potential and a desirable floor plan. *** The kitchen has already been opened to the living room, creating a more open and inviting living space while allowing you to enjoy the sunny views from both rooms. The large enclosed balcony provides valuable year-round living space and overlooks Montebello's picturesque "Picnic Hill" and outdoor pool. *** The generous primary suite features an en-suite bath, a linen closet, and a large walk-in closet, offering plenty of storage and comfort. Whether you're looking to create your dream home or customize a residence to your own taste, this condo presents an exceptional opportunity to enjoy the Montebello lifestyle at an affordable price. ABOUT MONTEBELLO: Montebello’s 35 WOODED ACRES create a "PRIVATE OASIS on a hilltop". Residents enjoy a long list of AMENITIES that set this community apart: a full-service grille and bar, indoor and outdoor saltwater pools with a hot tub, a state-of-the-art fitness center with treed views, and even a sauna. For recreation and fun, there’s a BOWLING ALLEY, GAME ROOM, BILLIARDS, a newly renovated PICNIC HILL with fire pit, stage and putting green, TENNIS COURTS, and WALKING TRAILS, along with a DOG PARK and numerous CLUBS AND SOCIAL ACTIVITIES to join. The complimentary weekday SHUTTLE makes it easy to connect with the Huntington Metro and nearby shopping. SECURITY AND CONVENIENCE are built into daily life here, with a 24-hour gated entrance, monitored and patrolled safety access officers, and professional on-site management. We are happy that we are now SMOKE-FREE in our buildings and Community Center. The CONDO FEE covers water, trash, amenities, activities, and community maintenance. Montebello is known for its FINANCIAL STABILITY—achieved without ever levying a SPECIAL ASSESSMENT. (Others refer to us as the 'gold standard' for condos.) >>> Blending COMFORT, CONVENIENCE, and NATURAL BEAUTY, this home offers more than just a place to live. It’s an opportunity to experience a lifestyle where every day feels like a RETREAT, yet Old Town, Mount Vernon , and the best of Northern Virginia are just minutes away.
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.
