Assumable qualifying VA Loan at 2.75%. VA Assumable Loan option is only for VA Buyers. Beautiful McDowell Mountain Ranch home located on a quiet cul-de-sac near the Havelina Trail entrance, offering immediate access to scenic hiking and biking trails. This spacious two-story home features 4 bedrooms and 3 full bathrooms, including a downstairs bedroom and full bath, perfect for guests or multigenerational living. The kitchen is designed with functionality in mind and features soft-close cabinetry and pull-out drawers throughout for easy organization. Upstairs, the primary suite offers a private balcony with stunning mountain views, along with a spacious bathroom featuring dual vanities, a soaking tub, separate walk-in shower, and a large walk-in closet. Both additional upstairs bedrooms also include walk-in closets, providing excellent storage throughout the home. Step outside to enjoy a private backyard backing to the wash, offering additional privacy and natural desert surroundings. The backyard is designed for Arizona living with a heated pool and built-in spa with waterfall feature, along with a large grassy area perfect for relaxing, entertaining, or play. Additional highlights include a mudroom area in the laundry room and built-in garage storage cabinets for added organization. Ideally located near the McDowell Mountain Ranch Aquatic Center and within walking distance to Thompson 105 and Bosa Donuts, this home is also close to top-rated McDowell Mountain Ranch schools, including Desert Canyon Elementary, Desert Canyon Middle School, and Desert Mountain High School, as well as nearby preschool options within the community. This home combines privacy, mountain views, outdoor recreation, and convenient access to dining, schools, and community amenities in one of Scottsdale's most sought-after neighborhoods.
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.
