Welcome to 8829 Fort Smallwood Road, a beautifully renovated and move-in-ready home offering the perfect combination of modern updates, timeless character, and exceptional outdoor living. Thoughtfully redesigned by the current owner, this property showcases an open-concept floor plan highlighted by soaring vaulted shiplap ceilings that create a bright, spacious, and inviting atmosphere throughout the main living area. The centerpiece of the home is the stunning living room, featuring a custom-built entertainment wall with a modern electric fireplace, shiplap surround, and handcrafted wood mantel. This impressive focal point creates the perfect setting for everyday living, relaxing evenings, and entertaining family and friends. Extensive improvements throughout the home provide both style and peace of mind, including fresh interior paint, updated hardwood flooring, new bedroom carpeting, a newer HVAC system, newer water heater, and updated plumbing lines. Every detail has been thoughtfully considered to create a home that is truly move-in ready. The newly finished lower level significantly expands the home’s usable living space and offers endless possibilities as a family room, media room, home office, fitness area, guest retreat, or recreation space. This additional finished area provides flexibility rarely found in homes of this size. Outside, enjoy your own private backyard oasis featuring a spacious rear deck overlooking an expansive yard and swimming pool. Whether hosting summer gatherings, enjoying family cookouts, or simply relaxing outdoors, this property is designed for making memories. Additional exterior enhancements, including attractive Azek siding accents and updated curb appeal features, further distinguish this home from the competition. Situated on a generously sized lot with potential subdivision opportunities (buyer to verify), this property presents a unique opportunity for homeowners, investors, or anyone seeking room to grow. Conveniently located near shopping, dining, parks, marinas, waterfront attractions, and major commuter routes, this home offers the perfect balance of comfort, convenience, and future potential. With its open-concept design, vaulted ceilings, extensive renovations, finished lower level, modern systems, backyard retreat, and subdivision potential, 8829 Fort Smallwood Road is a rare opportunity to own a truly turnkey property in one of Pasadena’s most desirable locations.
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.
