Rare opportunity to own a spacious 4 bedroom, 3 bathroom home offering approximately 2,444 square feet of living space in desirable North Rialto. With multiple living areas, flexible spaces, and an expansive backyard, this property is ideal for large households, multi generational living, or anyone seeking room to grow. Inside, you'll find a generous living room with a fireplace, a separate family room perfect for entertaining, and a spacious kitchen with abundant cabinetry, a dedicated breakfast nook area, and an open layout that flows directly into the family room. The primary suite offers a comfortable retreat with dual sliding door closets, dual vanities, and a walk in shower. The additional bedrooms provide ample space throughout the home. Recent improvements include a freshly painted exterior, all new windows, and select interior updates. A standout feature is the converted garage space with its own private entrance, offering valuable additional space complete with brand new neutral toned carpeting, fresh interior paint, a laundry area, and bathroom. This versatile area provides flexibility for a variety of household needs and living arrangements. Step outside to an expansive backyard featuring a large covered patio, creating the perfect setting for entertaining, family gatherings, or simply enjoying the outdoors. The property also includes a detached bonus structure with insulation, carpeting, a full bathroom, lighting, and additional usable space. Buyers are advised to independently verify permits, square footage, and intended use of all improvements. The property offers ample parking options, including RV parking potential with convenient side gate access, making it ideal for recreational vehicles, trailers, boats, or additional vehicles. This home is just minutes from Renaissance Marketplace, offering a variety of popular eateries, supermarkets, shopping, movie theaters, and more! Commuters will appreciate the easy access to both the 210 and 15 Freeway, making travel throughout the Inland Empire and surrounding areas more convenient. This home offers an exceptional combination of space, flexibility, location, and value. Qualified VA buyers may have the opportunity to assume the seller's existing VA loan with an interest rate of approximately 2.75%, potentially resulting in substantial monthly savings compared to current market rates. Buyers are advised to verify eligibility requirements and assumption guidelines with their lender.
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.
