1111 W DIAMONDBACK DR, Chandler, AZ 85286
Are you interested in saving $600 per month? Ask about the $475K ASSUMABLE LOAN at 4.99%. HUGE SAVINGS!!!! Better than new - absolutely immaculate newer home(2022) in the popular GATED Mariposa community. The interior offers an open layout with 9ft ceilings, recessed lighting, and gorgeous wood-style LVP flooring. Fall in love with the gourmet kitchen, including quartz countertops, stainless steel appliances, gas range, cabinet pull out drawers, custom coffee bar area and a perfectly sized kitchen island overlooking the great room. EVO smart home technology allows you to control features with an app on your phone including a video doorbell, WIFI Thermostat, garage opener, Smart Entry Lock and Lighting Control (no monthly fee). The main suite offers a full ensuite with dual sinks and.. a walk-in closet. Finally the tranquil backyard includes a paver covered patio and artificial turf. Featuring a corner lot with a manicured front yard and a 2-car garage already equipped to charge your electric car! Be sure to ask about the secret storage area and tankless water heater. Sellers have added nearly $25,000 in upgrades to this stunning home. Mariposa residents will enjoy resort style amenities including a clubhouse, sparkling pool, hot tub, firepit and BBQ, dog park, parks, and trails. Home is also within minutes of the 101 and 202 freeways, Chandler Mall, a large variety of restaurants, Price Corridor, Intel, Ocotillo Golf Resort, highly rated Chandler schools, and Tumbleweed Rec Center. Your choice of 5 nearby grocery stores...Sprouts, Albertsons, Safeway, Fry's and Winco. This home checks all the boxes!
You may be able to put down less than the total down payment amount of $24,014 and have the rest of the funds financed with a 2nd mortgage from a lender. 4
Location
Details
How it works
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Tour
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.
Offer
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Close
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
Who can qualify
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.
Frequently asked questions
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.
Will an assumption work for me?
An assumption might be a suitable option for you if you meet the lender’s qualifications. We also offer Roam Boost to help buyers reduce the down payment required to a minimum of 5-15%. See below for more FAQs specific to Roam Boost.
Why do buyers use Roam?
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Roam helps home buyers find and purchase homes with a low-rate assumable mortgage included. Once you find your dream home, Roam manages the process of assuming a low-interest rate mortgage, helping buyers save thousands a year on mortgage payments compared to buying with a traditional mortgage at today’s rates. On average, buyers who use Roam save $15,000 in mortgage payments annually.
MLS ID: #6718527