781 N Bristol Ln, Gilbert, AZ 85234
5 beds · 4 baths · 4,036 sqft
Motivated Seller! Discover this spacious home in the Bristol Square community in Gilbert, Arizona, offering a blend of comfort, flexibility, and convenience. Improvements: Roof Underlayment Two HVAC Systems LVP Flooring & Carpet Water Heater Interior/Exterior Paint Renovated Balcony Floor & Railing Basement Remodel Updated Kitchen **The total square footage of this home including the basement, is approximately 4,692 square feet. (4,037 without) *Verified by appraisal service. This home includes a 655-square-foot finished basement filled with natural light, a full bathroom, kitchenette, utility room/walk-in closet, & its own HVAC system. This versatile space could potentially be an additional bedroom, playroom, or theater room. Another highlight is the nearly 700-square-foo recreation room with a separate HVAC system and an exterior door to the driveway. This flexible area could serve as storage, a guest suite, home gym or a blend of it all. Upstairs, you'll find generously sized bedrooms, including the primary suite that has a walk-in closet with a standard closet across from it. Primary bathroom is large, has a toilet room, and a two person shower. The private balcony, accessible only from the primary suite, has the Superstition Mountains in sighta great spot to relax. Three of the four bedrooms are spacious enough to accommodate a standard king-size bed. One full bathroom with quartz countertop and dual sinks. The main floor features an open floor plan with vaulted ceilings, two large living spaces, laundry room, a ¾ bathroom with quartz countertop, two car garage and the recreation room. The updated kitchen with quartz counters is perfect for entertaining, offering both formal & informal dining areas. With an office/bedroom on this level it adds even more versatility. The exterior has low-maintenance landscaping and a spacious driveway. The 35' x 50' rear side yard could be ideal for RV/trailer parking or a variety of other uses, additionally, the pool presents options for renovation, fill-in, or relocate to optimize the outdoor space.
Source: ARMLS #6773389
Interest rate and monthly payment estimated based on public records.
Source: ARMLS #6773389
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.
