16840 W Las Palmaritas Dr, Waddell, AZ 85355
5 beds · 3 baths · 1,956 sqft
Welcome to Northern Crossing by Lennar Homes! An open contemporary floor plan of 1953 SF of space that boasts 5 bedrooms, 3 bathrooms and a 2-car garage. Front bedroom and bath just off the entry way, perfect for overnight guests visiting. The foyer leads you into the u-shaped kitchen area with plenty of storage space, eat-up bar seating, 5-burner gas range, and a double door pantry. The kitchen area flows seamlessly into the formal dining area and then to the great room area. Built in fireplace with a ship lapped wall and built-in cabinetry and shelving. Sliding glass door leads you out to the covered patio area. Primary suite located at the back of the home, complemented by an en-suite private bathroom with barn door and walk-in closet with built-ins. Three additional secondary bedrooms provide comfort and privacy for family or an office or home gym area, along with an additional bathroom. Large laundry room round out all the rooms. Home is designed with upgrades accents throughout along with wood flooring in the main living areas for easy maintenance. A meticulously landscaped back yard with synthetic grass compliments the indoor living. Covered patio area with an extra privacy wall between you and the neighbors. A large gazebo area to enjoy the Arizona nighttime. Plenty of space for the kids to run and play! Enjoy a plethora of community amenities with walking paths and park areas, ramada for celebrating special occasions outdoors, barbeques, horseshoe, kids playground area. Loop 303 is just a mere minutes away giving you convenient access to State Farm Stadium, Wildlife World Zoo, Luke Air Force Base, I-10 and Loop 101 for exploring beyond!
Source: ARMLS #6835089
Financials
Source: Public records
Source: ARMLS #6835089
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.