Tucked away in the prestigious town of Cave Creek in the community of Tatum Ranch you will find this lovely home nestled in the private enclave of Toscana. This 2/2 home has been meticulously maintained and taken care of. Talk about curb appeal, new river rock and desert plantings greet you as you step onto the property. As you enter the front door you take notice of how spacious the dining and living room area is and the laminate flooring which flows throughout the main area and bedrooms gives the space a sleek look. Ceramic tile is offered in the kitchen and baths. Vaulted ceilings, newer ceiling fan and new lights in living room. All doors and baseboards have been recently painted to give rooms an added freshness. Check out the kitchen for the next owner to enjoy. New appliances include refrigerator, stove, dishwasher, microwave, garbage disposal, sink, faucet and professionally painted cabinets along with new LED kitchen overhead light. Have fun creating many new recipes in your new kitchen, any cook's delight. The primary bedroom suite with vaulted ceiling and two large closets has room for a king size bed and then some. The primary bathroom and guest bathroom both have new towel bars and vanity lights; guest bath also has new shower head and tub stopper. Guest bedroom/work out/office, flex space is up to the new owner to decide, so many options. Laundry closet in hallway includes the washer and dryer and has two shelves for extra storage. The garage door has had the threshold seal strip replaced and all the cabinetry is being saved for the new owner. The backyard has also been lovingly taken care of as well with new river rock, new canopy on the gazebo swing which stays for the new owner to enjoy. The irrigation system in both back and front yards has been rebuilt with a new control box. This home and area offer a private quiet space to meditate, unwind and escape the big city hustle and bustle. With many parks nearby along with walkability to shops, two grocery stores, library, salons, etc. and a short drive to the quaint western town of Cave Creek, where everyone is a cowboy with more shops and restaurants to explore. Welcome to your next home, welcome to 29816 N 41st Street.
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.
