Stunning Fully Renovated Horse Property! Welcome to this beautifully updated 3-bedroom, 2-bathroom home situated on approximately 2 irrigated acres in Waddell. Perfect for equestrian enthusiasts or those seeking peaceful country living with modern luxury, this turn-key property offers all the updates and endless outdoor enjoyment. Step inside the completely renovated interior featuring tile flooring throughout, soaring ceilings, and an open, light-filled layout. The gourmet kitchen is a chef's dream with an oversized Quartz island, high-end appliances including an induction cooktop, premium cabinetry with Rev-a-Shelf organizers, and a convenient KitchenAid drawer. High end wet-bar with a wine and beverage center just off the kitchen with a pass-through window makes this space special. The primary suite is a true retreat, with a huge, customized walk-in closet, a luxurious bathroom with a marble wet room shower and a unique Hot Tools drawer. Two additional bedrooms provide flexibility for family, guests, or use as a home office. Other notable interior upgrades include new windows, crown molding, led accent lighting and network wiring throughout the home, walk-in pantry, soft close cabinets and electric roller shades on the windows. Outdoor living shines here! Relax and entertain under your covered patio with outdoor speakers, built in electric fireplace and flat screen tv. The outdoor kitchen features a built-in BBQ and space for a smoker. The backyard landscape includes a gas fire-pit, grass, and shade trees. Enjoy the newly landscaped front yard with low maintenance shrubs and thoughtful landscape lighting. The expansive grounds in back feature an irrigated pasture complete with a trotting track and a 4-stall pole barn. Three 12x24 stalls, one serving as a hay stall with double gates to easily back in a trailer. The 4th stall is oversized 24'x50'. Additional equestrian amenities include an air-conditioned tack shed, hitching rail, automatic waterers, outdoor fans for year-round comfort and a chicken coop. Fully paid solar panels ensure low utility costs and energy efficiency. The front gated entry has a convenient circular driveway with plenty of room up front to park your guest's vehicles, trailers, tractors, RV's and more. Mountain views, ample parking and useful shelving in the garage plus plenty of room to roam make this a rare find in the Phoenix West Valley.
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.
