Single-Level Desert Retreat with Guest Residences and Resort-Style Backyard This exceptional Fountain Hills property offers a rare combination of single-level living, modern construction, and flexible guest accommodations. Rebuilt in 2015 and thoughtfully expanded, the home provides both privacy and versatility with three separate living spaces--ideal for extended family, visiting guests, or creative use such as a home office or studio. The main residence features approximately 2,341sf with three bedrooms and 2.5 baths, designed for comfortable everyday living and effortless entertaining. Bright, open living spaces flow seamlessly to the backyard retreat, where a sparkling diving pool, gazebo, built-in BBQ, and gas firepit create the perfect setting for enjoying Arizona's outdoor lifestyle year-round. A screened-in patio off the primary suite offers a peaceful place to relax and enjoy the quiet desert surroundings. Adding to the property's flexibility is a 563 sq ft attached two-bedroom guest residence complete with a full kitchen with granite countertops, a bath with walk-in shower, and its own private screened patio--ideal for extended family, visiting guests, or long-term stays. Completing the property is a 396 sq ft detached casita with kitchenette, granite counters, and walk-in shower, perfectly suited as a guest suite, private office, art studio, or additional living space. Set on a spacious 15,000 sq ft lot, the property offers exceptional backyard privacy while still being just minutes from the parks, dining, and small-town charm that make Fountain Hills such a special place to live. Now priced below a recent appraisal, this unique property presents a compelling opportunity for buyers seeking flexible living space, modern updates, and a true Arizona outdoor lifestyle.
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.
