This stunning single-level home in the heart of Tempe offers the ideal blend of comfort, convenience, and charm! Located in an iconic Suggs neighborhood with NO HOA, this property places you within walking distance to Trader Joe's, top dining, parks, and everything that makes South Tempe so desirable. Step inside to a warm, inviting layout featuring 5 full bedrooms--a rare find in this area. The spacious living areas flow effortlessly, highlighted by a cozy real wood-burning fireplace that adds character and warmth to the home. Large windows fill the space with natural light, creating an open and welcoming atmosphere. Outside, you'll find a private front courtyard perfect for morning coffee and complete with a private herb garden! The split floor plan was very well designed. The resort-like backyard is incredibly private, framed by a beautiful row of mature shade trees & palm trees that create a peaceful paradise. Enjoy summer days in the redone diving pool and relax under the expansive covered patio, perfect for outdoor dining and entertaining. With three French doors leading directly to the backyard, indoor-outdoor living has never been easier or more inviting! The kitchen includes all black appliances, custom wood cabinets, granite counters, a breakfast bar, and this space opens up to the great room with stunning exposed wood beams and a dining room skylight. Some of the upgrades include; a new roof in 2020, fresh paint inside, newer custom showers, brand new luxury vinyl plank flooring in the home office, power washed exterior and much more. And if that isn't enough, this home is within walking distance to The Lakes, Scudder park, Target, Dutch Bros and The Majestic movie theatre. The garage also has a level 2 EV charger and service door to the outside. If you are ready to challenge the status quo and are looking for something special, this home is for you!
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.
