Large three-bedroom, two-bath home with an attached two-car garage and an additional detached 700 sqft garage, situated on a spacious corner lot in Joshua Tree. This fully fenced property has been beautifully landscaped in both the front and backyard, offering privacy, functionality, and impressive curb appeal. As you arrive, you’ll notice the mature landscaping, large concrete driveway, and drive-thru gate providing ample space for RV storage or additional toys. Block wall privacy fencing enhances the yard, while a concrete walkway leads you to the front door where a newly built deck captures gorgeous views of Joshua Tree National Park and downtown Joshua Tree. Inside, you are welcomed by a remodeled kitchen featuring newly finished cabinets, updated backsplash, stainless steel appliances, generous storage, and abundant counter space. The large living room offers plenty of space for gathering and includes a cozy gas & wood-burning fireplace. The home features a split floor plan with a spacious primary bedroom that includes two closets and an ensuite bathroom with a large dual-sink vanity, ample storage, and a beautifully remodeled walk-in shower with modern tile finishes. The two additional bedrooms are well-sized with plenty of closet storage, and the second bathroom is conveniently located with a shower-tub combo and all the essentials. The backyard is packed with amenities designed for enjoyment and entertaining. A very large covered patio provides shaded outdoor living space, while a standalone deck offers room for seating and currently accommodates a cowboy pool, all with phenomenal mountain views. Additional features include a fire pit area, mature shade trees, a hammock space, and another shaded deck. The 700 sqft detached garage offers extra storage and includes a sectioned-off area currently used as a man cave. RV hookups are also in place. This home features dual cooling with both central HVAC and a ducted evaporative cooler. Truly turnkey and ready to go, this property offers an exceptional location close to downtown Joshua Tree, the entrance to Joshua Tree National Park, and everything the area has to offer.
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.
