2833 E Tracy Ln # 21 Unit 21
Phoenix, AZ 85032
2 beds · 2 baths · 960 sqft
$260,000
Get prequalifiedAbout this home
*Incredible opportunity 4% assumable mortgage available* Discover this beautifully updated corner unit featuring 2 bedrooms, 1.5 baths, and 2 convenient carports. With an inviting and lively color scheme, this home offers an open floor plan perfect for comfortable living. Upstairs, you'll find two bedrooms with stunning views of the community pool and a full bathroom, while a powder room is conveniently located downstairs. The first floor boasts durable tile flooring, while the bedrooms feature laminate flooring for a cozy touch. The seller has thoughtfully enhanced the backyard with a landscape watering system, creating a lush private oasis complete with a fig tree, flowering bushes, and outdoor lighting - perfect for relaxing or entertaining. A storage has been added under the staircase including the washer and dryer (located in the storage area next to the kitchen), are included. The kitchen offers direct access to the private backyard and the 2-car carport, adding convenience to your daily routine. Located in a prime North Phoenix spot, this home is close to parks, the 101 & 51 freeways, and the amenities of both Phoenix and Scottsdale. Don't miss this opportunity for a stylish and comfortable home in an unbeatable location!
Source: ARMLS #6755705
Neighborhood
FAQs
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.
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.
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.
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.
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 “Save search” 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.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.
Phoenix, AZ 85032
2 beds · 2 baths · 960 sqft