Gorgeous turnkey home in Lomita Village, just moments from Lemon Grove. Situated on a serene street primarily traveled by residents, this recently upgraded home offers a warm and inviting retreat. Step inside to a spacious living room accented by an oil-rubbed bronze ceiling fan. Your attention is naturally drawn to the room’s focal point: a classic brick fireplace finished in rich espresso, a warm tone echoed throughout the stair railings. The living room flows seamlessly into a dining area that comfortably fits a table for 8, with sliding doors opening to a 12' x 40' patio—ideal for al fresco dining and entertaining. The dining area is conveniently adjacent to the updated kitchen, featuring quality cabinetry, granite countertops, ceramic tile flooring, recessed lighting, black appliances, a stainless steel sink, and a granite breakfast bar. Beyond the breakfast bar, the family room is designed for relaxing, entertaining, and TV viewing, with direct access from the 2-car attached garage. A nearby downstairs bathroom features an enclosed shower. A second set of sliding doors extend the living space outdoors, connecting easily with the dining area and patio. The stairwell provides a natural transition to the upper level, bringing together the home’s cohesive palette—Navajo white walls, crisp white baseboards, espresso railings, and Behr “Pure Heart” trim—grounded by neutral waffle-pattern carpet and an oil-rubbed bronze overhead light fixture. (Continued in Supplement) Upstairs features four bedrooms, three of which includes ceiling fans. All bedrooms, hallways, and closets have been updated with new carpeting, complemented by new hallway light fixtures and bronze door hardware. The spacious 12' x 16' primary suite has a generous 9' x 5' walk-in closet plus an updated bathroom with granite vanity, a custom-tiled shower enclosure and updated lighting and plumbing fixtures. A secondary bedroom features double doors, while the hallway bath has been tastefully updated with granite, ceramic tile, and new fixtures. The front yard features low-maintenance decorative gravel, offering clean curb appeal and ease of upkeep. The expansive backyard offers approximately 48' x 56' of usable space with a large patio, ideal for entertaining, BBQs, gardening, and outdoor gatherings. A storage shed conveys with the property, and the yard is well-suited for recreation, play, and pets, with ample space for games and outdoor living. Beyond the usable yard area, the lot continues with a natural downslope. Move-in ready and thoughtfully updated, this home offers comfortable living, flexible spaces, and easy indoor-outdoor enjoyment in a quiet residential setting.
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.
