Welcome to this acre-plus property in Wittmann, offering plenty of space for horses, gardening, and enjoying the Arizona desert lifestyle. The property is fully fenced with perimeter chain-link no-climb fencing and includes two horse pens with a large turnout, making it ideal for horse owners & letting the dogs run freely or for those wanting room to spread out. The home features 3 bedrooms with a split floor plan, with the primary suite privately located away from the secondary bedrooms and offering its own en-suite bathroom. The secondary bedrooms are oversized, and every room features newly installed remote-controlled ceiling fans for added comfort. Additional living space includes two Arizona sunrooms, one located just off the primary bedroom, providing a perfect spot for relaxing or enjoying the surrounding views. Recent updates include new interior paint, new flooring in the bedrooms, new trim throughout, a new AC unit, and a new hot water heater, while the main living areas feature tile flooring. The kitchen area includes a new refrigerator, and the laundry room has been upgraded with a new utility sink. A separate RV/workshop garage provides excellent space for projects or storage and includes 220V power, a swap cooler, and ample workspace. A portion of the space has been converted but could easily be converted back to RV parking or additional storage if desired.The property also features a two-car garage, RV gate for easy access, and plenty of room for trailers and equipment. Water is supplied through a shared well with five other properties, and there is a 1,600-gallon storage tank on site used for irrigation only. Located in a growing area with a new road planned for 227th Avenue, this property offers both privacy and future accessibility, making it a great opportunity to enjoy country living while still being within reach of nearby amenities.
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.
