12955 E Mercer Ln, Scottsdale, AZ 85259
4 beds · 3 baths · 2,894 sqft
Impeccably maintained and beautifully updated, this stunning home in the sought-after Rio Montana community showcases true pride of ownership. Situated on a premium interior lot with desirable North/South exposure, mature landscaping, and enhanced privacy, this home offers both comfort and functionality. The well-designed floor plan includes a main-level bedroom and full bath, perfect for guests, multi-generational living, or a home office. The bright and open living spaces are enhanced by soaring vaulted ceilings and large windows that flood the home with natural light. Recent upgrades include premium engineered hardwood flooring with upgraded baseboards, newer A/C units, fresh exterior paint, a remodeled primary suite bathroom, and an updated kitchen featuring a newer microwave oven dishwasher, and water softener. The backyard provides a serene retreat, ideal for relaxing or entertaining. Conveniently located just minutes from The Mayo Clinic, BASIS Schools, world-class golf, hiking and biking trails, as well as premier shopping and dining, this home is nestled in one of Scottsdale's most desirable zip codes. Don't miss this incredible opportunity to own a home that blends luxury, comfort, and an unbeatable location!
Source: ARMLS #6831035
All values shown are estimated costs / mo.
Source: Public records
Source: ARMLS #6831035
To qualify, you must meet the current FHA or VA 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.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
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.
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.
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 620, 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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.