Welcome to 970 Idyllwild Way, an immaculate Palisades residence nestled in the highly sought-after community of San Elijo Hills. This stunning home showcases exceptional pride of ownership and is truly turnkey. From the moment you enter, you’re greeted by an elegant entryway leading to a versatile bonus room and den, setting the tone for the thoughtful design throughout. The home features Italian slate flooring with copper inlay, crown molding, designer paint, and an abundance of natural light. Formal living and dining rooms flow seamlessly into an oversized great room, complete with a built-in entertainment center and whole-home surround sound, including outdoor speakers. The gourmet kitchen is beautifully updated with upgraded cabinetry, premium countertops, modern fixtures, and stainless steel appliances perfect for both everyday living and entertaining. Additional highlights on the main level include a downstairs guest suite, wine nook, half bath, two fireplaces, and direct access to a finished oversized three-car garage. Step outside to a tranquil outdoor sitting area with fountains where no details were overlooked. Upstairs, you’ll find four spacious bedrooms, a loft, and three full bathrooms, along with a well-appointed laundry room featuring ample storage and a built-in sink. The luxurious primary retreat offers dual professionally built-out closets, a spa-like bath with upgraded countertops, tile flooring, oversized sinks, oil-rubbed bronze fixtures, and a large soaking tub. Step onto the private deck to take in breathtaking ocean and mountain views. The oversized entertainer’s lot provides ample space for a pool and features a generous side yard for outdoor dining, entertainment or relaxation. Additional upgrades include wood shutters, new exterior paint and premium finishes throughout. This exceptional Palisades home combines elegance, functionality, and stunning views in one of San Elijo Hills’ most desirable neighborhoods. Don’t miss this incredible opportunity to own a truly special property.
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.
