Welcome to this charming 1-bedroom, 1-bath condo nestled above Mission Gorge Road surrounded by lush green rolling hills in the sought-after Allied Gardens neighborhood. Located within a secure, gated community, this home offers both comfort and peace of mind along with wonderful amenities including a hot tub, fitness center, sauna and beautifully maintained grounds dotted with mature fruit trees throughout. Inside, you’ll appreciate the open, easy-flowing layout that connects the kitchen, dining, and living spaces. Beautiful wood laminate flooring and tile adorn the interior, creating a warm and cohesive feel throughout. The kitchen is well-appointed with stainless steel appliances and generous cabinetry. Natural light fills the living area, and the private balcony provides a quiet outdoor space complete with its own storage closet. The bedroom is spacious with a large walk-in closet, and the bathroom has been refreshed with shiny new fixtures in the shower/tub, an updated faucet and a new light fixture above the vanity, adding a clean and modern touch. The sellers have also had new plumbing installed beneath the kitchen and bathroom sinks, along with a newly upgraded electrical panel. The HOA covers water, sewer, trash, and common area maintenance — providing effortless, low-maintenance living. Residents also enjoy elevator access within the building, along with a conveniently located assigned parking space. Ideally located near Mission Trails Regional Park, San Diego State University, Kaiser Zion to mention a few. You will also enjoy being just 10 miles from the bustling Downtown San Diego and close to world-famous attractions like The San Diego Zoo and SeaWorld. Once you’re home, there’s little need to get back in the car with shopping, dining, and everyday conveniences close by — This move in ready condo is a wonderful opportunity for a first-time buyer or investor seeking value in a prime San Diego location.
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.
