1308 E CLIFTON AVE, Gilbert, AZ 85295
Welcome to this fantastic 3-bedroom, 2.5-bathroom two-story home on a desirable N/S exposure lot that backs to a greenbelt in the highly sought-after community of Spectrum at Val Vista. Residents here enjoy a community center, numerous playgrounds, and courts for tennis, bocce ball, basketball, and pickleball, along with multiple green spaces and walking paths throughout the community. Inside, you'll find an inviting family room with a cozy fireplace and easy flow to the chef's kitchen, which includes all appliances, ample cabinet and countertop space, and a view window above the kitchen sink that brings in natural light. The kitchen is open to the dining area, providing great access to the backyard oasis. The backyard features a covered patio and low-maintenance landscaping with ample room to relax and dine alfresco. Make your way upstairs to the primary bedroom, which offers an ensuite bathroom with dual sinks, a glass-enclosed walk-in shower, a deep soaking tub, and a large walk-in closet. The two secondary bedrooms, a full guest bath, and a laundry room that includes the washer and dryer round out this upper level. Located within walking distance to Spectrum Elementary, popular restaurants, convenient shopping, and easy access to Loop 202 for commuting, this home offers a perfect blend of comfort, convenience, and community amenities. Don't miss the chance to make this your new home!
You may be able to put down less than the total down payment amount of $193,152 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: #6738210