3591 N Bear Canyon Rd, Tucson, AZ 85749
6 beds · 9 baths · sqft
Formerly ''The Estate and Home of Bazy Tankersley'', Tucson's premier Arabian Horse breeder and newspaper publisher, daughter of US Senator Joseph McCormick and US Representative Ruth McCormick. Founder of Al-Marah Arabians in Tucson, her 10.75 acre home and compound bordered Al-Marah, allowing her quick access to her beloved horses. Bounded on either side by branches of Sabino Creek with forests of cottonwood, sycamore and mesquite trees, offered are the 5-bedroom 5 1/2-bath Main House with 4,740 sq. ft., the 876 sq. ft. 1-bedroom Casita and the 2,662 sq. ft. Event/Party House. Browse the 20' x 32' library/living room in the Main House with a soaring beamed & planked ceiling, a corner fireplace, hand-painted clerestory windows & doors (possibly painted by Helen Murphy) and, walls of built-in bookcases. House friends or family in the Guest House with kitchen, bedroom and living room. And entertain guests in the hacienda-like Event/Party house featuring a gourmet kitchen & butler's kitchen, professional gas range, separate breakfast room, glorious 17' x 30' dining room with rows of beams & corbels, a beehive fireplace, a historic chandelier, niches, and scored concrete floors. Meet or entertain in the 29' x 19' main room with a fireplace and lounge, or grow orchids in the 29' x 17' solarium. Mexican light fixtures, hand-carved doors, decorative iron door handles, and wrought-iron banister to the upstairs viewing deck. An abundance of high desert flora and fauna, private well, swimming pool, tie your horse to the hitching posts in front of the Main House and live a private, secluded life in one of Tucson's lushest locales.
Source: SOUTHAR #22428722
Interest rate and monthly payment estimated based on public records.
Source: SOUTHAR #22428722
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: #22428722
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