1888 Circulo Colombia, Rio Rico, AZ 85648
3 beds · 2 baths · sqft
**THIS HOME HAS A VERY LOW RATE ASSUMABLE MORTGAGE available to ANY buyer, and IS ALSO within a USDA Rural Development, no down payment loan location. Nestled against the breathtaking backdrop of the mountainous landscape and rural setting, this custom home offers plenty of modern comforts. It's culinary enthusiast's delight kitchen, dual sided below storage kitchen island, timeless tasteful toned consistent granite countertops throughout, stainless steel appliances, Stainless steel single compartment basin under mount Farm sink, consistent custom wood soft close cabinetry throughout and 4'' plantation shutters in the whole front of the home with stylish window treatments throughout included as well. ASK ABOUT ADDITIONAL CONCESSIONS! This Frank Carrillo custom home showcases it's craftsmanship from the moment you step into the fo 9+ foot ceilings and plenty of natural light illuminating it's tasteful timeless rectangular tile floors throughout from end to end, bull nose corners and inset architectural nooks, it's the attention to detail that's showcased here. The split bedroom plan that caters to privacy with it's primary suite complete with a spa like ensuite and walk-in closet. This is a perfect family home or special couple or single occupant retreat. It's energy efficiency with 40 year life span cement tiled roof, #1 rated in it's class Rheam hot water heater with timer, Whirlpool Gold Series appliances rated 2nd to only Bosch that are all included, combined with the modern day standards of energy efficiency, make this home very budget friendly. The additional features of this home also includes it's Samsung washer and dryer, a fully wired, APP operated and professionally monitored alarm system suited with security camera for those potential worry free long trips away from home. Don't forget those desirable evenings outdoors chit chatting, entertaining, or just grilling dinner in the shade of the large covered patio off the great room. It's no secret that there is new construction at all stages within the area, but this home is finished, custom and with so many included valuable features for you to reap the benefits of! Oh I almost forgot the pride of ownership and excellence in maintence including quarterly preventative termite service.
Source: SOUTHAR #22411720
Interest rate and monthly payment estimated based on public records.
Source: SOUTHAR #22411720
Source: Public records
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
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.
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
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.
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.
MLS ID: #22411720
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.