Sitting on nearly half an acre in the heart of the North Central Corridor with NO HOA, this property offers something rarely found in this area: a fully self contained attached casita. Complete with its own kitchen, living room, bedroom, washer and dryer, screened in porch, and private entrance, it opens the door to true multigenerational living, a long term rental, a private guest suite, or even a separate home office space. The home was originally built in 1949 but has been extensively updated over time with meaningful improvements that make it live far more like a newer home. The layout connects the main living spaces with a family room centered around a wood burning fireplace, creating a natural gathering place for evenings at home or time spent with friends and family. Bathrooms and the primary bedroom have been remodeled, and many of the core systems have already been replaced, including plumbing, sewer lines, and water systems (a complete list of improvements is available). Outside, the property really sets itself apart. The backyard features a sparkling saltwater pool with a waterfall, a large covered patio with lights & fans, and a gazebo that is ideal for weekend get togethers, parties, or slow afternoons in the sun. Running through the yard is a small creek that serves a functional irrigation purpose while adding a peaceful and unexpected element rarely found on Phoenix properties. An Arizona room attached to the main house allows for peaceful and quiet mornings to enjoy the serene backdrop. The oversized lot also creates opportunities you simply do not get in most North Central homes. There is room for up to ten cars including the garage, or space to create a full basketball setup out front. Inside, handmade barn doors crafted by family members add a layer of character and story you will not find in typical builder finishes. This is a home that has been deeply cared for and thoughtfully improved over the years. Located in the highly sought after Sunnyslope High School district, just minutes from downtown, shopping, dining, art galleries, sporting events, and major freeways, properties that combine this much land, a true casita, and this level of investment rarely become available in the North Central Corridor.
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.
