1432 E LUPINE AVE, Phoenix, AZ 85020
This beautifully remodeled home, with an *INCOME-PRODUCING GUEST HOUSE* offers a blend of modern comfort and cozy charm tucked within the foothills of North Mountain. Step inside to discover stunning new hardwood flooring, fresh paint, and a newly installed (July 2024) HVAC system ensuring year-round comfort. The warm and inviting living room is truly the heart of the home, right off the kitchen, featuring a real wood-burning fireplace—perfect for lively conversations, game nights, or curling up with a good book. The kitchen boasts a new gas range and appliances, complemented by an adorable breakfast nook where you can savor your morning coffee while enjoying serene mountain views. Adding to the home's versatility is a moody movie room, which doubles as an additional bedroom with its built-in closet space. There's also a flexible den/office space that can be easily converted into another bedroom or used as a productive work-from-home area, adapting to your needs. The original bathroom has also been remodeled featuring a spa-like walk-in shower, beautiful tile work and vanity. The remodel also introduced an additional new full bathroom to the main house right off the primary bedroom with a soaking tub and exquisite details. Also, a newly added convenient laundry room/pantry enhancing both functionality and convenience with beautiful cabinetry, countertops beverage fridge and front load washer/dryer. The guest home, currently used as a successful short-term rental, this versatile space features a kitchenette, full bath, and living space which can serve as an income-generating asset or a private retreat for guests. Make it your own art studio or work from home office as well. With its fresh updates and modern upgrades, including a new septic system (October 2022), this home is ready for you to move in and enjoy. Don't miss out on this unique opportunity to own a home that combines modern amenities with charming, cozy living just steps away from the North Mountain Phoenix Preserve hiking and bike trails and minutes away from the AZ-51, Loop 101, Sky Harbor Airport, and many shopping and restaurant experiences. *Furniture available by separate bill of sale*
You may be able to put down less than the total down payment amount of $183,581 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: #6756124
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.