Wake up every morning to breathtaking sunrises over the lake in this beautifully maintained home, perfectly positioned on one of the largest lots in the community--nearly 10,000 sq ft--nestled on an oversized cul-de-sac lot in one of Peoria's most desirable lake communities. This single-level, 3-bedroom, 2-bath home offers just under 1,700 sq ft of thoughtfully designed living space with soaring cathedral ceilings, a bright open great room concept, and picture windows that bring the outdoors in. From the moment you enter, you'll appreciate the real hardwood flooring, custom architectural niches, new carpet, and abundant natural light that create a warm yet elevated feel throughout. The spacious kitchen is ideal for entertaining, featuring a charming bay window, breakfast nook, and a 2021 KitchenAid appliance package, perfect for entertaining. The primary suite is generously sized and designed for comfort, offering two closets--including a walk-in--plus a spa-like bath with dual sinks, a large walk-in shower, and direct access to your backyard oasis. Step outside to your private escape featuring an incredible sparkling pool, double flagstone patios, covered outdoor living spaces--perfect for relaxing or entertaining year-round in true Arizona style. Additional upgrades include a 2019 Trane A/C unit with transferable warranty with apx 3 years remaining, exterior sun screens, and the added bonus of a neighborhood comprised entirely of single-level homes--no two-story neighbors looking in. This vibrant lake community offers a lifestyle that's hard to match, including lake access for paddle boarding and kayaking, scenic walking and biking paths, and community events throughout the year--from the annual Holiday Boat Parade to spectacular 4th of July fireworks right from your own backyard. Just a short walk or bike ride brings you to the incredible Rio Vista Community Park, featuring a recreation center, indoor pool, fitness center, splash pad, playgrounds, sports courts, fishing lake, and miles of trails. Conveniently located minutes from Arrowhead Towne Center, Peoria Sports Complex (home of spring training and year-round events), and with quick access to Loop 101, you're also just a short drive to State Farm Stadium, Westgate Entertainment District, Top golf Glendale, Desert Diamond Casino West Valley, and the new VAI Resort. Homes with this combination of location, lot size, upgrades, and lifestyle simply don't come along often--this is your opportunity to own a true Arizona retreat in one of the West Valley's most sought-after communities. This amazing home is priced well and won't last long!
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.
