Welcome to Small Mountain, an intimate and highly sought-after development in Rancho Mirage. This fully remodeled and spacious 3-bedroom, 2-bathroom townhome of almost 1,600 square feet (largest floorplan in the community) combines designer finishes, an optimal location within the community, and breathtaking mountain views. The spacious living and dining areas, along with the upstairs level, boast soaring ceilings and expansive windows that fill the home with natural light and frame the stunning surroundings. The fully renovated kitchen features quartz countertops, sleek cabinetry, and premium stainless steel appliances, while both bathrooms have been stylishly upgraded with high-end finishes. Just off the kitchen is a proper laundry room for added convenience. The thoughtful floor plan includes two upstairs bedrooms, both with beautiful views, including a generous suite, plus a main-floor bedroom that offers flexibility for guests, a home office, or single-level living. Throughout the home, abundant closet space provides exceptional storage. Step outside to a large private terrace, perfect for entertaining or enjoying the tranquility of the desert landscape. A premium location within the community, the outdoor space is magical and provides fantastic opportunities for indoor-outdoor living. A two-car garage adds further convenience, and the home's systems have been updated, including newer HVAC, energy efficient windows and more, for peace of mind. Residents of Small Mountain enjoy access to sparkling pools, relaxing spas, tennis courts, and more, offering leisure and recreation just steps from home. Experience the best of Rancho Mirage living at Small Mountain, where privacy, style, and mountain beauty come together.
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.
