This beautifully updated, single level home is the perfect move for those ready to simplify without sacrificing style or for anyone seeking a high quality home under $450,000. Offering a rare 4 bedroom, 2 bathroom residence in one of the Valley's most strategic corridors, this property is designed for the savvy buyer who values both financial stability and a life full of adventure. The home welcomes you with a spacious, layout that prioritizes easy maintenance with tile in all traffic areas, while the kitchen shines with granite counters and white cabs and an island! The bedrooms feature new carpet and custom feature walls. The main living areas showcase vaulted ceilings and that open space feel, highlighted by the additional dining room door for added indoor/outdoor living enjoyment. Practical upgrades offer peace of mind, including an AC that is only 10 years old and a newer variable speed pool pump. While updated a few years ago, the home retains a charming, lived-in character that feels immediately like home. The backyard has been thoughtfully transformed into a private escape where you can enjoy the Arizona sun beside the sparkling pool, which is safely fenced and surrounded by premium travertine tile. The addition of high-quality turf provides a pop of green year-round without the upkeep, and the expansive side yard includes an RV gate with pavers, perfect for storing your outdoor gear. This location is a true destination, placing outdoor enthusiasts minutes away from world class hiking at nearby preserves and just a short drive from boating at Lake Pleasant. For the professional, the proximity to the new TSMC campus and major freeways makes for an effortless commute, while the dining and nightlife of the area remain right around the corner. This home offers a move-in ready feel with the opportunity to add your own personal touches over time. Don't miss your chance to put down roots in an up and coming area where the lifestyle is as big as the investment potential.
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.
