4145 W SAINT KATERI DR, Phoenix, AZ 85041
VA Assumable Loan! Welcome to this spacious 2-story home in Village Commons. Step inside to discover a grand staircase and formal living room & dining room with a double-sided fireplace to host gatherings or relax and unwind. Here you will also find an additional room - perfect for home office, workout studio, play area or craft area. The feature of the home is the generous sized kitchen, showcasing stainless steel appliances, a gas range, granite countertops, and large island. You will also find plenty of storage when you see the amount of cabinets available and the expansive walk in pantry. With an eat-in dining area and a breakfast bar, there's plenty space for casual meals and entertaining. The kitchen opens into the family room, where again, the double-sided fireplace adds warmth and charm. Upstairs you will find spacious loft area, offering endless possibilities for recreation or relaxation. The second floor also houses the grand primary suite, complete with a walk-in closet and a spa-like bathroom featuring dual vanities, a whirlpool tub, and a separate shower. Three additional generously sized bedrooms and another bathroom ensure that everyone has their own space and comfort. The backyard offers a covered patio and blank slate to create your dream oasis. This home is located with quick access to Highway 202, restaurants and shops.
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: #6694189