1005 Studebaker Way, Prescott, AZ 86301
3 beds · 2 baths · 2,282 sqft sqft
Situated in the highly desirable Yavapai Hills, this beautiful home boasts outstanding curb appeal and a private, park-like backyard oasis. Upon entering, you're greeted by a formal dining/sitting room just off the foyer. The kitchen features wood-grain cabinetry, a stainless-steel appliance suite with a 5-burner gas range and double oven, rich granite counters, pantry, informal dining area and a breakfast bar. The great room highlights a floor-to-ceiling stack stone fireplace with a custom granite hearth, lush carpeting and abundant recessed lighting. The spacious master suite offers dedicated access to the rear patio and entrance to the incredible backyard sanctuary. The spa-like master bathroom includes double closets, large soaking tub, double basin granite vanity and walk-in shower. Off the great room and kitchen, there is a beautiful extra retreat, reminiscent of an Arizona room. This heated and cooled living space, with skylights, is perfect for relaxation. The guest bedroom wing hallway features a solar tube for added natural light and leads to two generously sized bedrooms, each with beautiful custom ceiling fans. They share a spacious bathroom, and adjacent is the laundry room equipped with a front-load LG washer and dryer on pedestals, a utility sink, and upper storage cabinetry. The backyard is a true masterpiece, with an expanded paver patio, a pergola-covered area, hot tub, and artificial turf. The fully fenced yard, a rarity for the subdivision, includes mature towering pine trees, both deciduous and evergreen plants, and raised flower beds. A beautiful waterfall feature serves as the focal point of the backyard, with raised, elevated seating areas for the ultimate view and relaxation. The property line extends well beyond the existing fence, adding to the sense of space. The front of the home features stack stone accents and mature foliage, while the security screen at the front door ensures peace of mind. Additional features of this property include a drip system and irrigation, a new roof, raised panel interior doors throughout, tile in the formal and informal dining areas, kitchen and an attached 2-car garage. Assumable VA financing available for qualified veterans!
Source: ARMLS #6708468
Interest rate and monthly payment estimated based on public records.
Source: ARMLS #6708468
Source: Public records
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Whether you have an agent or you’re just starting your search, reach out to us and we’ll help set up a home tour.
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
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.
What 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.
MLS ID: #6708468
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.