1321 Sierry Peaks Dr, Prescott, AZ 86305
3 beds · 2 baths · 3,020 sqft
Welcome to the PONDEROSA. Don't miss this rare opportunity to own a luxury LOG CABIN with a metal roof in the center of Prescott. As you enter the private gate and drive along the pavered driveway, you will notice the home surrounded by tall pine trees and lush landscaping. Enjoy the stunning view and peaceful surroundings from the large covered porch. Tons of space to entertain or just sit and read a book. As you enter the home you'll be amazed with the open floor plan, the soaring log beamed ceilings and the incredible stone fireplace. Just a few steps away is a great chef's kitchen with tons of space, stainless steel appliances and granite countertops. From the dining room you can exit through the slider to the parklike backyard. The very spacious master bedroom also has access to the backyard, while you enjoy the master bath with double sinks, a built-in vanity, soaker jetted tub, separate shower and a nice walk in closet. Two more large bedrooms, an additional bathroom and a laundry room wrap up the coziness that is the Ponderosa. Upstairs has a unique space that can be a 4th bedroom, family room, play room or just flex space for whatever you can dream up. Enjoy the wonderful backyard and the intentionally natural landscaping on quiet nights or entertain in the large space. The detached oversized 2 car garage is quite the added bonus and is just a breezeway away. This property is being sold with the additional buildable .39 acre lot right next door. That property can be built on or left alone for privacy and natural beauty. Most of the furnishings in the home can be purchased separately.
Source: ARMLS #6837578
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Why Roam
Lower rates and lower down payments
The only homebuying option for you to put 5% down and get a 5% rate.
Closing guarantee
We can close in 45 days or we’ll pay the seller’s mortgage until we close.
Offer acceptance
95% of offers accepted when made with Roam. 5% accepted without.
Rates and payments are estimates based on public records.
Source: Public records
Source: ARMLS #6837578
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.
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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.