Tucked into two wooded acres of towering ponderosa pine, this is a rare in-town parcel that still feels like a retreat. A river-rock chimney anchors the 1999 main home, where wide-plank pine floors run beneath vaulted ceilings and an upstairs master. The main bathroom features a marble counter with molded sink basin set in maple cabinets. The galley kitchen pairs butcher-block counters and honey-stained maple cabinets with a stainless oven range, dishwasher, and refrigerator. Two bedrooms, two baths, plus a flex space that works as a third bedroom, office, or media room. Step onto the elevated deck and the forest is your backyard. Sold furnished -- water, septic, power, and propane are already in place. A second structure is where this property earns its keep. The 493 sq ft casita features pine floors and walls, a kitchenette, full bath, and a covered front porch. This property has proven rental potential as a nightly stay, long-term unit, or private guest quarters. Below it sits a terraced hot-tub deck carved into the hillside, screened by pines and built for stargazing after a day on the trails. Outside, a circular gravel drive, flower-filled wine barrels, a porch swing, and a hammock strung between trunks set the tone. Stacked-stone retaining walls and native rock borders shape the grounds without fighting the natural terrain. No HOA, horses allowed, and the kind of quiet you usually have to drive 30 minutes out of town to find. That's the trick here: you're minutes from Show Low's grocery stores, the hospital, restaurants, and shopping, yet steps from trailheads, lakes, and pine-shaded parks. Show Low sits at roughly 6,400 feet in the White Mountains. It hosts four real seasons: summers that stay 20+ degrees cooler than the Valley, and weekends built around the Mogollon Rim, Fool Hollow and Show Low Lakes, fishing, mountain biking, ATV routes, and winter snow. It's a primary residence, a weekend escape, and an income property all on one lot. Furnishings convey, the recent appliances stay, and both homes are move-in ready. Bring the horses.
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.
