6044 E Decatur St, Mesa, AZ 85205
2 beds · 2 baths · 1,213 sqft
Find your ideal retirement home in 55+ Dreamland Villa! This charming property offers 3 beds, 2 baths, a 2-car garage, and a low-care landscape. The large den/office also has a mini-AC split added so it's perfect for having the extra space. The cozy front porch will greet you upon arrival! Inviting interior showcases designer paint, tons of natural light, and carpet & wood-look flooring in all the right places. You'll love the perfectly flowing living & dining room! The kitchen features built-in appliances, ample white cabinetry, and an attached desk. Primary bedroom boasts a private bathroom and two closets - one is a walk-in. The barn doors open to the Arizona room, an excellent spot to relax without worrying about the weather! It is also a versatile space that can be an office as well. Check out the backyard to find a fenced area, where you can enjoy BBQ! Make this gem yours now! The home has an FHA assumable loan, so take advantage of lower payments! Motivated seller
Source: ARMLS #6790778
Interest rate and monthly payment estimated based on public records.
Source: ARMLS #6790778
Source: Public records
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%. 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.
Other resourcesWhat is Roam?
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.
What is an assumable mortgage?
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.
Why is an assumable mortgage valuable?
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.
How can you find assumable mortgage listings?
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 “Get Notified” 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.
How do I qualify for an assumable mortgage?
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.
