Spanish retreat located in the Estates of Carmela. This home captures the essence of La Quinta resort-style living with its striking Spanish architecture and inviting, open layout. High ceilings and graceful arches add character throughout the interior, enhancing the resort feel. The entry features a large, enclosed courtyard accessed through French doors, promoting wonderful indoor-outdoor flow. The expansive great room connects seamlessly to this courtyard on one side and, on the other, opens via three sliding doors to the spacious, private backyard oasis, complete with a pool and an enclosed California Room. The great room is open to the gourmet kitchen, which features a center island, beautiful designer lighting, a large walk-in pantry, and a butler's pantry/prep area with extensive storage and cabinet space. Designer lighting is a feature throughout the entire home. The large Primary Suite is a true retreat, offering a separate French door entrance to the backyard. The Primary Bathroom includes a spacious walk-in shower, dual sinks, a separate soaking tub, and a large walk-in closet. The two guest bedrooms are generously sized. One features a private outdoor sitting area, and the other is large enough to function as a casita or office and includes French doors opening to the main entry courtyard. The guest bathroom is equipped with dual sinks and a large shower/bath combination. The backyard is spacious and private, providing numerous enclosed areas perfect for relaxing around the pool. It also features a custom BBQ island and a beautiful pergola for additional seating. The property includes a dedicated side area for gardening, complete with lemon and lime trees. The landscaping is drought-tolerant and equipped with sprinkler drip lines to all plants and trees, complemented by beautiful accent lighting. This home is being sold comfortably and tastefully furnished. Located in an elite and lively town, you will enjoy sunshine all year round and never a shortage of activities, including great entertainment, shopping, and dining. The area is also close to PGA Golf, the Indian Wells Tennis Garden, and offers abundant biking and hiking trails.
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.
