Assumable VA loan at an incredible 2.25% interest rate, a rare opportunity in today's market! Welcome to 926 W Apollo Avenue, a hard-to-find Tempe gem situated on a spacious 8,500+ sq ft corner lot with NO HOA, giving you the freedom and flexibility you've been searching for. From the moment you arrive, you'll appreciate the pride of ownership, generous lot size, and unbeatable central location. Step inside to a warm and inviting family room that offers the perfect space to relax or gather with friends and family. Continue into the beautifully updated kitchen featuring a large island, sleek quartz countertops, upgraded cabinetry, built-in microwave, and plenty of prep and storage space for everyday living and entertaining alike. Just off the kitchen, the oversized formal dining area creates the ideal setup for hosting! The home features stylish wood-look flooring in main living areas, adding both warmth and durability. Retreat to the XL primary suite filled with natural light and plenty of room to unwind. Spacious secondary bedrooms provide flexibility for guests, a home office, gym, or growing household needs. The interior has also been freshly painted, giving the home a clean and modern feel throughout. Outside, enjoy the benefits of the oversized corner lot with an RV gate, abundant parking, and endless potential to create your dream backyard oasis. Whether you envision a pool, workshop, garden, or entertaining space, this property gives you room to make it happen. Conveniently located near the I-10 freeway, commuting anywhere in the Valley is quick and easy. Just under 5 miles from Arizona State University, minutes from shopping, dining, parks, and entertainment, and only 12 minutes to Phoenix Sky Harbor International Airport. Opportunities like this in Tempe - especially with an assumable 2.25% VA loan and no HOA - are incredibly rare!
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.
