VA/FHA approved AND a completely renovated kitchen! You must see this gem to enjoy all that it has to offer. Upon entry, you’re welcomed directly into the living room, with a versatile reading nook or office space just off the living area, perfect for work or relaxation. You’ll also find a convenient downstairs half bathroom, so guests won’t need to go upstairs. COMPLETELY remodeled kitchen featuring all-new quartz countertops, soft-close cabinets and drawers, new sink, new stove/oven and all new luxury vinyl plank flooring throughout the downstairs. Most of the interior has been freshly painted in soothing, neutral tones which offers a calm and welcoming vibe. One sliding door off the living room and a second off the kitchen, opens to a private covered courtyard which flows seamlessly into the huge backyard area. One of the largest lot sizes in the community, featuring a private backyard with no rear neighbors-perfect for possibly adding a pool, ADU, outdoor kitchen and creating your own space with endless possibilities. All four bedrooms are located upstairs with a surprisingly oversized primary suite thoughtfully positioned on one side of the home for added privacy & separation from the secondary bedrooms. This home is filled with natural light and enjoys the most refreshing breezes throughout, creating an airy and inviting ambiance. Not only does this home feature a rare TWO-car garage, but it also offers an additional cut-out space specifically designed for a full-sized washer & dryer providing added convenience & storage. Added features include dual pane windows and central A/C This home is located just off the 54 freeway and the community is adjacent to Bonita neighborhoods, offering a great location with close proximity to military bases, local amenities, shopping, dining and more. This home provides ample space for everyone’s needs.
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.
