Welcome to this beautifully upgraded 4-bedroom, 2-bathroom home offering 1,488 square feet of thoughtfully designed living space. This stunning single-story residence has been meticulously renovated by owner and is move in ready. New flooring throughout the home, featuring luxury vinyl plank and artfully selected tile in the kitchen, dining area, and laundry space. The fully remodeled kitchen is a showstopper, complete with custom cabinetry, sleek quartz countertops, farmhouse sink, and upgraded stainless steel appliances including the stove with double oven, dishwasher, microwave and extra large refrigerator. Custom built coffee counter with additional storage ensures there's space for everything. This home is also packed with upgrades for comfort and peace of mind. The washer, dryer, roof, dual-pane windows, sliding glass door, tankless water heater, attic insulation, and air ducts have all been replaced and upgraded in the past two years. Additional electrical outlets and ceiling fans in 3 of the bedrooms have been added. The garage has been enhanced with durable epoxy flooring, and newly installed gutters complete the home’s thoughtful improvements. The enclosed front yard ensures maximum use, privacy and security. Upgraded turf in the front and back yard makes for low maintenance enjoyment of the outdoor space - great for relaxing or entertaining! Don’t miss your chance to own a fully upgraded home in the heart of Mira Mesa!
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.
