IMAGINE DAILY LIVING JUST MINUTES FROM LAKE OROVILLE WITH SWEEPING LAKE AND EAST FOOTHILL VIEWS....The expansive front deck is the perfect gathering space for family and friends, featuring glass panels designed to preserve the breathtaking scenery. This stunning 4-bedroom, 2.5-bath home offers nearly 2,300 square feet of beautifully designed living space that blends beauty with functionality. Outdoor enthusiasts will love the location—just minutes from the lake, marina, hiking trails, and year-round recreation. Fifty-two solar panels (2Tier solar system) provide power with a transferable monthly cost of $286.38 and seller has never had a true-up utility bill. The recently remodeled kitchen and dining area are truly exceptional. A magnificent onyx island countertop anchors the space, surrounded by custom cabinetry crafted from walnut, teak, and mahogany. The beautiful travertine backsplash, flooring, and baseboards add warmth, while a copper wall pot filler and a stunning travertine farmhouse sink elevate both style and function. The kitchen is complete with all new GE Café appliances with copper accents. The dining area features a custom wine rack, charming window seat, and a lake-view window. The vaulted living room showcases custom wood beams, recessed lighting, Venetian plaster accents, and a beautiful stone fireplace with Heatilator, all framed by large windows capturing the incredible views. Convenience meets flexibility with two entry options—a traditional front entrance or a rear driveway access that allows entry onto the second level with no stairs required. The primary suite enjoys spectacular lake views, private access to the front deck through large glass doors, and a peaceful retreat atmosphere. Another bedroom is located on this level along with a spacious laundry room with sink and cabinetry. The fenced backyard is beautifully landscaped and hardscaped with decorative rock features and a relaxing rock fountain. Colored stamped concrete enhances both the front and backyard. Designed for year-round enjoyment, the backyard includes a solar heated swim spa and hot tub, creating a private outdoor retreat. Additional features include: 2 bdrms. downstairs with a large bonus room, whole-house fan, ceiling fans throughout, gutter guards, ample parking in both front and rear, and an 8 x 18 hickory storage shed. This remarkable property offers the perfect blend of relaxed living, scenic beauty, and outdoor recreation just minutes from Lake Oroville.
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.
