1848 E BARNACLE AVE, Apache Junction, AZ 85119
Step into this stunning 4-bedroom home in the legendary city of Apache Junction, located in the sought-after Tomahawk neighborhood. A rare opportunity awaits to assume the current low-interest VA loan, making this home an even better investment! This spacious property features a true den/office conveniently located on the main floor, ideal for conversion into a 5th bedroom if needed. The custom touches and upgrades throughout make this home stand out, starting with the huge kitchen that offers endless counter space, granite countertops, a walk-in pantry, and matching stainless steel GE appliances. The kitchen boasts a new range/stove, a newer dishwasher, and a refrigerator in the kitchen (with an additional fridge in the garage), all included in the sale. Even the washer and dryer are part of the package! Upstairs, you'll find brand new carpet (2024), custom stair rails, and freshly painted neutral walls. A spacious loft area is perfect for transforming into a cozy movie room. The primary suite is a true retreat, with a remodeled bath featuring dual sinks and his-and-hers walk-in closets. Secondary bedrooms are generous in size, offering plenty of space for everyone. Step outside into your lush backyard oasis, complete with a shady pergola, fruit trees including a pomegranate, grapevines on irrigation and a full length covered patio for room to relax or entertain. The home is move-in ready with a newer A/C unit, a recently replaced water heater (April 2024), and garage door has newer motor and spring. Located in a charming low-turnover neighborhood where kids still trick-or-treat, this meticulously cared-for home is a true treasure. Don't miss out on the chance to make this beautiful property your own! Take a tour today and see why this home won't last long! Launch date is 9/14/2024 from 11:00am-1:00pm.
You may be able to put down less than the total down payment amount of $150,769 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: #6754044