Welcome to your stunning “view” home in the highly sought-after Camarillo Springs 55+ Community. This beautifully upgraded home stands out because it also offers an assumable home loan with a low interest rate of only 2.25% for financing, should you choose to keep your cash and invest it. In addition to the coveted mountain views (with no neighbors behind you, and NO HIKING permitted), this open-concept floor plan features a dramatic entry that allows you to look through the large living area and straight through to the beautiful, green sloping hill to the mountains and beyond. The beautifully remodeled kitchen features state-of-the-art appliances, Quartz countertops, and a large kitchen bar where all your guests will want to gather. And the beautiful and durable luxury vinyl planks flooring and stylish Plantation shutters throughout the home demonstrate your good taste. The expansive Living Room boasts vaulted ceilings with a fireplace, a luxury ceiling fan, and large sliding glass doors, which lead to a stunning private backyard patio designed with low-maintenance landscaping, pavers throughout, an extended walkway, and a convenient retractable awning, truly an ideal space to relax or entertain! The spacious primary suite has ample closet space, direct patio access, and an ensuite bath with a walk-in shower and sweeping two-sink vanity. And the large secondary bedroom features ample closet/storage space and direct access to a Jack-and-Jill style bathroom located off the hallway. Additional highlights include dual-pane Milgard windows, smooth ceilings, energy-saving ceiling fans in every room, an HVAC system, direct access to a large, finished 2-car garage with plenty of storage space and a work bench, and an above-garage attic storage space with a reinforced pull-down stairway access. The Camarillo Springs HOA offers residents resort-style amenities, including a large swimming pool, spa, fitness center, and Clubhouse with social clubs and activities tailored to an active 55+ lifestyle. And Camarillo Springs homeowners also have access to the Camarillo Springs 18-hole Golf Course, and the nearby scenic walking trail makes exercising fun and easy! Don’t miss out on this exceptional home located in a beautiful, gated community. Call today to schedule a private viewing!
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.
