5062 E Lee St, Tucson, AZ 85712
2 beds · 2 baths · 1,001 sqft
Looking for a townhome without an HOA can certainly feel like searching for a unicorn in the Sonoran Desert! However, you won't want to miss this charming townhouse that offers just that.Step inside to discover a generously sized living space that flows seamlessly into a galley kitchen, making it perfect for entertaining or enjoying a quiet meal at home. The home features two comfortable bedrooms with two full bathrooms.This is truly a fantastic opportunity for homeownership, or an investment for a rental. This motivated seller is eager to make a deal. Don't miss your chance to experience this hidden gem!Notable updates throughout the property include fresh paint and new flooring, with new carpet in the master bedroom. The galley kitchen features a brand-new dishwasher, and an updated pantry which includes convenient sliding shelves for better organization. Plus, a new water heater ensures you won't have to worry about running out of hot water. Your major applianceswasher, dryer, dishwasher, stove and refrigeratorare all included, making your move-in seamless. Outside, you'll step into your own oasis with plenty of greenery for generous shade in the summer. This open and low maintenance backyard is ready for you to enjoy. You will appreciate the recently updated exterior paint and a rebuilt built-up roof, complete with a warranty through 2029 for peace of mind. Located in central Tucson, this townhouse offers the perfect balance of comfort and convenience. You'll find yourself just minutes away from parks, shopping, dining, medical facilities, golf courses, and the University of Arizona.
Source: SOUTHAR #22426335
Interest rate and monthly payment estimated based on public records.
Source: SOUTHAR #22426335
Source: Public records
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%. 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.
Other resourcesWhat 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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.