This beautiful home is well maintained and ready to move into. This 2,988 sqft home has a large kitchen with an island and a double oven. The kitchen has a pantry, plenty of storage and opens to the living and dining areas. The family room has a wood burning stove insert to keep the house warm in the cold winters. The home has an extra room that could be an office or craft room. There is a second living room that is currently set up as a game room. The residence has high ceilings that make it feel open. Every room has a ceiling fan to help keep air flowing and the house cool during the hot summers. The large master suite has a jacuzzi tub and a large walk-in closet. The home has 38 solar panels to help keep the energy bills low. There is a closed-circuit camera system with 8 cameras and 2 Ring cameras. The home is already set up with and alarm system (ADT). This home sits on just shy of a half-acre lot. The front and back yards are beautifully landscaped with fruit trees, vegetables, roses, aromatic flowers, rock landscapes as well as real grass in the front and artificial grass in the back. In the front yard there is a large driveway with plenty of parking as well as a second driveway that gives access to the back yard. There is a 30amp outlet to plug an RV (or whatever you would like) in. The backyard has a large built-in dog run with two levels, the lower has a large dog patio and the upper has a shade tree. The back yard has a 16x32 foot above ground pool which was installed 2 years ago. The backyard has lighting that can be controlled by an app. Recently added on the upper level of the backyard is stamped concrete, electrical outlets, water spigots and a gas firepit which overlooks the desert/mountain views. Additionally in the backyard is a 20x10 storage shed.
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.
