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$1,200,000

6747 N 12th St, Phoenix, AZ 85014

5 beds · 4 baths · sqft

Location, Location, Location! Are you searching for a home with endless possibilities? Look no further—you've found the one! This stunning property has been expanded to include 995 square feet of additional living space, making it one of the largest homes in the area. With 5 bedrooms and 4 bathrooms, the possibilities are truly endless. This versatile home can be tailored to your needs: • Option 1: Keep it as a spacious single-family home. • Option 2: Convert it into two separate units—a 3-bedroom, 2-bathroom home and a two bedroom, 2 bathroom with a private entrance for added privacy. • Option 3: Create two one-bedroom apartments plus a main house for multi-generational living or rental income opportunities. Nestled in the highly sought-after Phoenix area, this home is close to all the amenities you need. Inside, you'll find: " Rich, hand-scraped wood flooring that enhances the large, open living spaces. " A great room with a vaulted ceiling " A chef's dream kitchen with a 36" KitchenAid gas cooktop, LED under-cabinet lighting, 42" upper cabinets, double ovens, and granite countertops. " Upgraded bathrooms featuring granite counters, a custom-tiled master shower, and dual sinks in the master suite. " New AC in the added living area and an updated AC unit in the main house. " Recessed lighting in the kitchen, bathrooms, and living areas. " Ceiling fans in every room for added comfort. " A large single-car garage with a vaulted ceiling, epoxied floor, and sink. Step outside to a huge backyard with endless possibilities, complete with irrigation. The circular driveway ensures easy access, while the charming curb appeal welcomes you home. Don't miss this incredible opportunity to live in the heart of Phoenix. Whether you're looking for a family home or an income-generating property, this home is ready to make your dreams a reality.

Estimated
Seller's interest rate
3.75%
7%
Estimated
Principal & interest
$1,253/mo.
$1,642
You may also save up to $94,038 in total interest paid.
Listing price
$1,200,000

Your cash down payment
$987,381
Seller’s estimated current equity is $987,381
To assume this mortgage you must cover the seller’s equity by using your cash or by combining your cash with gap financing.
Estimated $1,253 monthly payment

Financed
$212,618
Assumed mortgage 3.75% • Seller's rate
$212,618
2nd mortgage 9.25% • No prepay penalty
$0

Interest rate and monthly payment estimated based on public records.

Roam helps you take over the seller’s lower interest rate 1
We help you assume the seller's mortgage and avoid higher prevailing market rates.

Roam Protection Plan 2
Roam transactions typically close in the same amount of time as a standard home purchase. To give sellers added peace of mind, if it takes longer than 45 days, we will pay the seller's mortgage until we close.
Location
Details
Home
Lot size
0.28 acres
Year built
1953
Type
Single Family Residence
HOA dues
$0.00

Source: ARMLS #6790219

Loan
Remaining term
20 years, 2 months
Rate
3.75%
Monthly P&I
$1,253
Remaining loan balance
$212,618

Source: Public records

Who can qualify

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 resources
Frequently asked questions

What is Roam?

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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?

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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?

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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?

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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?

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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.

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Last updated: Feb 10, 2025 06:05 am
Listing agent: Susana E Diaz (602) 300-9862
Listing provided courtesy of: West USA Realty (602) 942-4200
Details provided by ARMLS and may not match the public record.
MLS ID: #6790219
Copyright © 2025 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Fair Housing Act logo Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.
Disclaimers
1 Roam connects buyers and sellers to homes with assumable mortgages via a concierge service. Roam does not offer or engage in mortgage lending activity.
2 30 day guarantee is subject to credit approval by your loan servicer.
3 The assumable interest rate shown for this assumable mortgage is an estimate using the average of interest rates in this home's area at the time of the last sale. The actual assumable interest rate may differ. Estimated payments do not include taxes and insurance premiums. Actual payments will be greater with taxes and insurance included. Roam connects buyers and sellers to home with assumable mortgages via a concierge service. Roam does not offer mortgage loans, extend credit, make credit determinations, or otherwise engage in mortgage lending or brokering activities. The lender makes all credit and qualification decisions with buyers. Any determination to extend credit to a buyer is a decision by the lender, and not by Roam.
4 The lender makes all credit and qualification decisions with buyers. Any choice to extend credit to a buyer is a decision by the lender, and not by Roam.
$1,253/mo
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