1902 W Granada Rd Phoenix, AZ 85009
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About this home
Near the Fairgrounds | Corner Lot | Income Potential: A 1929 Brick Bungalow Reborn!! This stunning historic brick bungalow has been completely remodeled head to toe, transforming a 1929 gem into a thoughtfully reimagined property where vintage character meets modern sophistication in one of Central Phoenix's most dynamic neighborhoods. This 2 BD, 1 BA main residence (716 sq ft) + fully permitted guest house with private bath (198 sq ft) + shipping container flex space with kitchenette adds up to a great deal of value! In this remodel every element was carefully considered: sage cabinetry paired with brass fixtures, geometric designer tile that makes a statement, natural light flooding through the kitchen, a cozy brick fireplace for cooler evenings, quartz countertops, black matte hardware, and a charming front porch with exposed beams showcase the quality throughout. The permitted guest house is a fully realized space with its own bath, mini-split HVAC, and private pavered patio. Clean lines, fresh paint, and thoughtful design make it move-in ready for guests or long-term tenants. The converted shipping container serves as a modern flex space with its own kitchenette. Currently set up as an office, it could easily transform into an art studio, workshop, home gym, or even a third income stream. Industrial-chic aesthetic matched with functionality. The outdoor spaces are designed for the Phoenix lifestyle. A secure electronic rear alley access gate with key fob entry opens to reveal ample parking for both the guest house and main house, custom hardscaping, and multiple entertaining areas. The covered front porch invites you in, while the private rear yard offers both functionality and desert charm. Newer systems throughout include HVAC, roof, copper plumbing, upgraded insulation, updated electrical wiring, replaced sewer line. This custom brick historic home retains its 1929 charm while offering all the conveniences of modern living. Located in Central Phoenix in the charming Villa Verde Historic neighborhood (with historic taxes!), walking distance from the fairgrounds, on a corner lot with character in a neighborhood that's experiencing its moment, this little beauty is going to make someone's lifestyle a dream! Don't miss!!
Source: ARMLS #6932306
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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.
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