No HOA, RV gate, and dedicated RV parking near 75th Ave & Cactus with convenient access to Loop 101, P83, and Peoria Sports Complex. This five-bedroom, three-bath home welcomes you with soaring ceilings and natural light, offering a spacious multi-level layout designed for everyday living and entertaining. The granite kitchen with center island flows into the dining area and family room featuring a fireplace and built-in wet bar. Situated on a 9,181 sq ft corner cul-de-sac lot with a three-car garage and private diving pool with raised spa. As an added bonus, the seller is offering a carpet allowance. Buyers may choose from available carpet samples on site, with installation completed before closing so the home feels refreshed on move-in day. Upstairs, the primary suite provides a comfortable retreat with dual vanities, walk-in shower, private toilet room, and a spacious walk-in closet. All three bathrooms have been thoughtfully updated with modern finishes. Two high-efficiency 2023 Trane AC units provide year-round comfort, and the water heater was updated in 2024. Dual pane windows and solar screens add efficiency. The backyard creates a true Arizona setting with a diving pool, raised spa, variable speed pump, built-in BBQ with bar seating, fire pit, concrete decking, and block fencing. The RV gate and dedicated RV parking add flexibility rarely found in this area, all without HOA restrictions. Located approximately 0.5 miles to Fry's Marketplace and Starbucks, under 1 mile to P83 Entertainment District and Peoria Sports Complex, and about 1 mile to Loop 101 access.
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.
