12366 N Cervelli Ave, Marana, AZ 85653
3 beds · 2 baths · 1,620 sqft
Looking for an affordable home for you and your loved ones? With this home, the seller is willing to offer $5,000 toward a rate buydown or your closing costs with a full price offer to help with your home purchase. This well-designed 3-bedroom, 2-bathroom home in the growing community of Gladden Farms in Marana is one you gotta see. This home features a split floor plan with spacious open-concept living, dining, and kitchen areas, making it the perfect place for gathering with family and friends. The tile and carpeted flooring add a balance of durability and comfort throughout. The backyard is a private retreat with young citrus trees and brick pavers, creating a great space to relax and enjoy Arizona's beautiful weather. Across the street, you'll find a small park and ramada, while just a short walk away, there's a larger park with a playground and a dog parkideal for an active lifestyle. With Gladden Farms located in one of the fastest-growing areas of Marana, you'll enjoy convenient access to new shopping, community amenities, and short hop to get onto I10. Whether you're looking for a place to call home or a great investment in a thriving community, this home is an opportunity you won't want to miss.
Source: SOUTHAR #22506672
Financials
Source: SOUTHAR #22506672
Source: Public records
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%. 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.
Other resourcesWhat 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.
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