Luxury property with income potential, only 23 miles from West Sedona. This home has undergone a complete, permitted, and professionally executed transformation. The main residence was fully remodeled in 2022 with new electrical, plumbing, fixtures, lighting, flooring, paint, hot tub, and appliances. A permitted guest casita was added in 2023 and is currently operating as a successful short-term rental, producing approximately $30,000 per year. The roof is 10 yrs old with recent maintenance & an active, transferable warranty. HVAC systems were installed in 2020, and the gas water heater was replaced in 2022. Major infrastructure has been updated, greatly reducing deferred maintenance. Exterior improvements include a new deck, fresh exterior paint, new grass, and professional landscaping. INCOME POTENTIAL - Casita currently used as a short-term rental (STR) - Average gross income approximately $30,000 per year - Private access to STR. Hot Tub conveys with STR MAJOR REMODEL & ADDITION - Full gut remodel of the main home completed in 2022 - Casita addition completed in 2023 - Sunroom expanded during the 2022 remodel - All permits were pulled for remodel and addition work - Work performed by licensed contractors and subcontractors including HVAC, plumbing, electrical, and concrete - Main home remodeled by Hales Roofing & Construction (License #358179) - Addition built by Nick Oman with R&M Roofing and Construction (License #357665) ROOF - Roof approximately 10 years old - Roof warranty is active and transferable at no cost, remains with the property - Roof repairs made to integrate new sunroom and casita addition into existing roof system HVAC / HEATING & COOLING - Forced air gas heating system installed in 2020 (approx. 5 years old) - Forced air electric cooling system installed in 2020 (approx. 5 years old) PLUMBING - Water pipes are PVC and PEX - Gas water heater installed in 2022 (approx. 3 years old) - Landscape watering system with automatic timer ELECTRICAL - New electrical throughout the home as part of the 2022 remodel - Copper wiring - Electric vehicle charging station (owned) APPLIANCES - All major appliances are less than 3 years old SEPTIC SYSTEM - Two septic tanks on site (main home + casita) - Main septic pumped and inspected May 2025 - Casita septic installed in 2023 and has not yet required pumping PEST CONTROL - Regular pest control service through Palmer Pest Control - Serviced monthly during bug season EXTERIOR & LANDSCAPING - Hot tub (new) - New deck installed - New exterior paint approximately 3 years ago - Grass planted two years ago - Ongoing professional landscaping maintenance and grooming of mature trees WATER - Town of Clarkdale water service - Notices received of high arsenic levels in the municipal system; filtered water used for drinking LOCATION & LIFESTYLE - Quiet neighborhood with a mix of mature neighbors and young families - Close to trails near Yavapai College - Close to restaurants and downtown Cottonwood
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.
