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.
Source: ARMLS #6790219
Interest rate and monthly payment estimated based on public records.
Source: ARMLS #6790219
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.
