1647 W Villa Rita Dr Phoenix, AZ 85023
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About this home
***HVAC 2022, ROOF 8-10 YEARS OLD*** Investor's Workshop Lover's Dream House. This 2122 sqft, 3-bedroom, 3-bathroom home is ideal for anyone seeking creative spaces with indoor/outdoor living. Step into the stunning garden-view room, filled with natural light pouring through elegant French windows/doors and a glass ceiling — perfect for relaxing, reading, or entertaining. A rare bonus to this property is the craft room/studio with a separate entrance, complete with beautiful skylights and an upgraded bathroom. Artists, hobbyists, and remote workers will love the flexibility of this inspiring space. The primary bedroom is located on the lower level, featuring gorgeous plank wood ceilings, tall bay windows framing backyard views, and a sense of peaceful privacy. In the heart of the home, the living room showcases a unique centerpiece fish tank and a built-in entertainment area, creating a warm and inviting gathering space. Storage, hobbies, and projects are easily accommodated with the workshop and 4 storage areas throughout the property. Outside, the backyard awaits your vision. Once a lush retreat filled with multiple water features, a koi pond, and a charming walking bridge, this landscape can be restored to its former beauty. Mature greenery is already in place, ready to become a private oasis once again. You'll also enjoy the convenience of an outdoor shower and a fantastic outdoor kitchen area for alfresco living and entertaining. Recent updates include a roof estimated to be approximately 8-10 years old and an HVAC system replaced in 2022, which is currently serviced under a professional bi-annual maintenance program. This home is being sold AS-IS and does require some repairs and TLC. Offering a rare opportunity for buyers seeking a home with character, space, and room to improve with its one-of-a-kind features and unlimited potential. This N/S corner lot is primed for its next chapter. Don't miss this opportunity! A must-see! BEING SOLD AS-IS. SELLER UNABLE TO MAKE REPAIRS.
Source: ARMLS #6940952
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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.