1281 E Frances Ln Gilbert, AZ 85295
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About this home
Location, Livability & Investment Potential! Nestled in the heart of Gilbert, this charming 2 bedroom, 2 bathroom home is an incredible opportunity for first-time buyers or savvy investors. With its prime location just minutes from SanTan Village, Loop 202, shopping, dining, and top-rated schools, this home offers unbeatable convenience and lifestyle perks. Step inside to find a bright, open layout with stylish wood floors, vaulted ceilings, and a cozy double-sided fireplace that warms both the living and dining spaces. The spacious kitchen is complete with stainless steel appliances, granite counters, and rich cabinetry—perfect for cooking or entertaining. Upstairs, enjoy an abundance of natural light and direct access to a private balcony ideal for morning coffee or evening relaxation. The generously sized backyard is a blank canvas with endless potential plenty of space to build your dream outdoor retreat. Whether you're looking to settle into your first home or expand your rental portfolio, this home checks all the boxes: location, layout, and long-term value. Don't miss your chance to own in one of Gilbert's most desirable neighborhoods! This one won't last!
Source: ARMLS #6930362
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Close stress-free in 45 days, handled start to finish by Roam.
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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.