Welcome to 133 E Alameda Drive, move in ready and completely updated single level three bedroom, two bath 1489 square foot home, plus a 720 square foot detached studio with its own bath and attached garage nestled in one of Tempe's most desirable locations, showcasing stylish upgrades throughout! Filled with character, this light and bright thoughtfully designed floor plan boasts timeless lvp flooring and a soft, neutral color scheme with an abundance of natural light in every room. At the heart of the home is a stunning, fully updated kitchen designed to impress with sleek quartz countertops, a striking waterfall island, timeless elongated white shaker style cabinetry, decorative tile backsplash, and stainless steel appliances. Three generously sized bedrooms provide comfort and ample closet space. Full guest bath boasts decorative subway tile, custom vanity with marble countertops, and a shower tub combo. The spacious primary suite is a true retreat, complete with an additional sitting room, ideal for a home office, reading nook, work out, or private lounge space, and a gorgeous ensuite bathroom. Step outside to the expansive backyard with real grass and lush trees, offering plenty of room for relaxation, play, or future customization. The RV gate adds convenience and versatility, accommodating additional vehicles, toys, or storage needs with ease. No HOA! Located off the covered patio you'll find an additional storage/workshop and spacious laundry room. Impressive detached studio with bathroom and garage, provides endless possibilities for a home office, creative workspace, guest house, or income producing opportunity. Whether you're seeking flexibility for multi-generational living or a private retreat, this detached space adds significant value and functionality. Pride in homeownership exudes with numerous upgrades inside and out, including a new roof (2022), water heater, HVAC (2021), flooring in bedrooms, interior paint, updated studio with all new flooring, interior paint and French doors (2026) - just to list a few. Prime location offering convenient access to local dining favorites, shopping at Fashion Square or the Biltmore, scenic hiking trails such as Camelback Mountain and Papago, top rated golf courses, parks, ASU, downtown Tempe, and major commuter routes, making it perfect for those who appreciate both comfort and connectivity. With its blend of modern updates, adaptable living space, and unbeatable location, this dreamy home presents a rare opportunity to enjoy the very best of Tempe, AZ living. You won't want to miss this!
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.
