Skip the builder delays. Skip the upgrade costs. Skip inheriting someone else's deferred maintenance. Scroll to DOCUMENTS for important property details. This is the cleanest, most predictable purchase in the neighborhood -- ask how you can save hundreds on your payment per month with use of preferred lender. Why wait months to move in and spend another $50,000 on essentials when you could be settled in your dream home by next month? This superb single-level home at 26026 N 138TH LN, Peoria, AZ 85383 in Rancho Cabrillo isn't just move-in ready, it's life-ready. While new build buyers are scheduling their fourth design center meeting and staring at dirt lots, you'll be hosting family barbecues on your covered patio surrounded by mature landscaping that took seven years to grow. The mountain views from your kitchen window aren't coming someday, they're here now, glowing pink every sunrise while your coffee brews. This 2,297 square foot home features four bedrooms in a smart split floor plan that puts the kids or guests on the opposite side from your primary retreat, which means actual peace after bedtime. The gourmet kitchen showcases granite countertops, stainless steel appliances including a gas range, massive island with breakfast bar seating, and a walk-in pantry that holds a full Costco run. Custom wood plantation shutters throughout every room save you the $8,000 headache new buyers face living with bare windows for months. The professionally designed low-maintenance backyard features desert & artificial turf landscaping and a spacious covered patio, ready for weekend relaxation without the 18-month wait and $20,000 expense new construction requires. Additional features include $10,000 Bulldog stainless steel wire mesh security doors & screens for protection and energy-efficiency lowering those summer electric bills reducing heat transfer by 66%, water softener system, dual-pane windows for more energy savings, walk-in closet organizers, laundry room access from primary closet, ceiling fans in every room, and absolutely zero construction delays or punch lists to manage. The true cost comparison? New builds at approx. $479,000 plus $45,000 in window coverings, landscaping, garage upgrades, and systems equals $524,000 by the time you actually move in 6-8 months from now. Our home at $520,000 means keys within 30 days, no hidden costs, no selection fatigue, and no stress on your relationship from endless builder decisions. Ease and convenience. Move in, invite your friends and pop the bubbly. Located minutes from Loop 303, Lake Pleasant, top-rated Peoria schools, and the growing TSMC employment corridor. The community features parks, playgrounds, basketball courts, and walking trails. This is what $520,000 actually gets you when everything is finished, tested, and waiting for you to simply move in and start living.
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.
