Coveted Paradise Valley School District, 1+ Acre Horse Property retreat with guest house, heated pool and No HOA! Rare find! Spacious newly renovated, 3 bed, 2 bath, 1924 sq ft main open concept light filled home, including additional bonus room for in-home office, gym or 4th bedroom. For added value opportunity, there is a detached 674 sq ft, 1 bed, 1 bath fully updated Guest House with a full kitchen, stainless steel appliances, granite countertops, tile flooring, walk-in closet, washer and dryer, with its own private entrance, yard and parking, all situated on this very hard to find and desirable over 1+ acre resort style property with gorgeous sunsets and mountain view's. The cool & lush resort style yard features a Heated Pool with waterfall slide, baja deck, and built-in dining table, several large patio areas perfect for relaxing and entertaining, a fire pit and large area at the back of the property perfect for horses, additional parking or adding on a barn, garage or sport courts and mini golf course. The front of the property has a large, paved courtyard, white corral fencing, double wide circle drive lined with lush hedges & shade trees creating a beautiful modern ranch style curb appeal. The property includes low maintenance desert landscaping with watering systems and paved sidewalks winding their way throughout the entire tree lined property front and back. Features of the home include vaulted ceilings, new spacious chef style kitchen, elegant two-tone cabinetry, large island, quartz countertops and backsplash, stainless steel appliances, new high-quality quartz vinyl flooring throughout for a seamless flow. Energy-efficient windows, all new AC ductwork, blown in attic insulation along with quality block & brick construction, concrete tile roof, and built with extra thick walls for comfortable desert living. Primary suite includes double doors, new dual vanity with marble counter, and walk-in closet. Bathrooms are newly renovated including granite, marble, tile, new vanities, new brushed chrome hardware, large LED mirrors and large linen closets. The light filled and spacious open living and dining area flow seamlessly into the backyard oasis--perfect for entertaining and enjoying gorgeous sunsets. There is a separate workshop/tack room area with covered parking at the back of the property which can be used for horses or additional vehicles. Property includes 3 additional storage sheds. Two large RV gates for easy access. Plenty of space for horses, RVs and toys, pickleball, tennis court, mini golf, plus income producing potential--all with no HOA! One of the best east valley locations and just minutes to the finest shopping and dining experiences at Scottsdale's Kierland Common, the new Paradise Valley Redevelopment Project, Desert Ridge and the city's most desirable golfing and hiking trails. With it's 1 acre+ move-in ready, serene and park like environment along with close proximity to all the city has to offer, including easy access to stadiums, airports, Mayo Clinic & Westworld of Scottsdale, this is rare & unique opportunity.
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.
