Comfort isn’t always measured in square footage. Sometimes it’s the way a home welcomes you in, and that’s exactly what you’ll find at 719 Picasso Ln. Tucked on a corner lot in Chico’s desirable Holly Estates neighborhood, this 3-bedroom, 2-bathroom home offers approximately 1,621 square feet of inviting living space designed for the rhythms of everyday life. Thanks to the home’s thoughtful orientation, mature shade, and owned solar, it stays naturally cooler during Chico’s warm summers while helping keep energy costs comfortably low. From the moment you step inside, vaulted ceilings, abundant natural light, and an open floor plan create a space that feels bright, connected, and effortlessly welcoming. The kitchen sits at the center of it all, bringing together the living and dining areas in a way that makes everything from busy mornings to holiday gatherings feel easy and natural. The layout is equally intentional. While the main living spaces encourage connection, the bedrooms are tucked away in their own wing, creating a welcome sense of separation at the end of the day. The primary suite enjoys direct access to the backyard, a spacious walk-in closet, and a private ensuite featuring a walk-in jetted tub, creating a comfortable retreat that’s both practical and relaxing. Outside, the backyard becomes an extension of the home itself. Mature trees provide welcome shade, while the corner lot orientation and surrounding landscape create a setting that’s ideal for everything from quiet mornings with coffee to evenings spent outdoors with family and friends. One of the best parts of living here is how close you are to everything. Walking paths, shopping, restaurants, Enloe Medical Center, Chico State, Downtown Chico, and the Saturday Farmers Market are all just minutes away, offering the perfect balance of convenience and a neighborhood that feels peacefully tucked away. This is the kind of home that quietly makes everyday life a little easier, where thoughtful design, year-round comfort, and an exceptional location come together in all the right ways.
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.
