This home has a history and it's not one you might expect. Now thoughtfully positioned for today’s market, 803 Omar Dr isn’t just a property., it’s a place where life slows down. Views take center stage and home finally feels like your escape. Perched at the end of a quiet cul-de-sac, behind a sense of privacy you can feel the moment you arrive, it’s a retreat above the city. As you pass through the gated entry, the world seems to slow down. The soft rustle of palms, the warm tones of the Spanish-inspired architecture, and the elevated positioning set the tone for what’s inside, a peaceful, grounded space designed to feel both secure and expansive. But the real magic begins out back. The backyard unfolds like a private resort. A custom pool and spa shimmer under the changing sky, surrounded by clean concrete lines, lush greenery, and thoughtfully designed lounging areas. It’s the kind of space where afternoons stretch longer than planned, where weekends feel like vacations, and where evenings become a ritual. And then there are the views. As the sun begins its descent, the horizon ignites in layers of gold, amber, and deep violet, casting a glow over the rolling Escondido hills. From the expansive balcony that spans the length of the home, you have a front-row seat to one of nature’s best shows, every single night. It’s quiet, it’s calming, and it’s something you’ll never get used to in the best way. Spanning over 3,300 square feet, this 5-bedroom, 3-bathroom residence offers the kind of layout that adapts to real life. New (5yrs or less): HVAC, tiled pool/jacuzzi, pool decking, heated pool and jacuzzi. All appliances convey: refrigerator, double oven, gas stove top, washer, dryer, trash compactor. Luxury Vinyl Flooring, Ceramic tile, Kasatan plush carpet. Whole house has been replumbed. Recessed lighting throughout. Bathroom fixtures. Electric garage doors with wi-fi connection. 60ft composite decking. Electric security gate. House is wired for security with cameras & full perimeter motion sensor lights. Pella sliding glass doors.; double pane windows throughout.
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.
