This remarkable property offers an exceptional opportunity for multi-generational living or savvy investors. Use the $4,700 of ADU income to offset your mortgage payment. Nestled in a desirable neighborhood, it features a charming single-family home, complete with an Accessory Dwelling Unit (ADU) and a Junior Accessory Dwelling Unit (JADU). As you step inside the main house, you’ll be welcomed by an expansive open-concept layout, filled with modern finishes and bathed in natural light. The kitchen is a culinary enthusiast’s delight, boasting generous counter space, ample cabinetry, and a large peninsula that serves as a breakfast bar for casual dining. The primary suite is a luxurious retreat, featuring a meticulously remodeled bathroom that includes a dual sink vanity and an indulgent walk-in shower for a spa-like experience. The main house also offers three additional bedrooms and a beautifully remodeled bathroom, providing ample space for family and guests. The JADU unit downstairs is a charming one-bedroom, one-bathroom oasis, complete with a full kitchen, a cozy living area, a convenient washer and dryer, and its own private 8x22 patio. The second ADU unit offers another inviting one-bedroom, one-bathroom space. Both units are designed with contemporary elegance, featuring striking white kitchen cabinets, quartz countertops, and luxurious vinyl plank flooring. Each unit benefits from its own private entrance and separate utility meters, ensuring privacy and independence for every occupant. The outdoor amenities are equally impressive, featuring a sprawling swimming pool and spa, alongside a covered patio ideal for memorable gatherings. There's plenty of room for all your outdoor essentials with the two storage sheds measuring 16x2 and 6x15.5. The backyard patio is conveniently plumbed and set up for an outdoor BBQ and sink island, making it the perfect spot for gatherings. An additional outdoor bathroom adds convenience for entertaining. Whether lounging by the pool or hosting lively gatherings, the backyard is undoubtedly a highlight of this exceptional property. A whole-house water softener ensures comfort. This home is conveniently situated just minutes away from Disneyland and a wealth of popular shopping and dining venues, offering unparalleled access to some of Orange County’s most coveted amenities. Whether you reside in one unit while leasing out the others or are in search of a high-potential investment property, this rare gem is a must-see!
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.
