20017 N 101st Ave Sun City, AZ 85373
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About this home
This home comes with an assumable loan balance of $105,131 at a 4.5% interest rate offering a valuable opportunity for buyers looking to lower their monthly payment. Room to spread out and make it your own! This expanded 2-bedroom, 2-bathroom Sun City home offers 2,183 sf of space, including several versatile bonus rooms perfect for hobbies, crafts, a home office, or additional living areas. A rear add-on with plenty of windows can create the perfect space for gardening, relaxing, or even a light-filled office. Here are a few ideas you could consider: Originally 1,160 sq ft, the home has been thoughtfully expanded to include multiple enclosed patio spaces, adding flexibility for your lifestyle needs. You'll appreciate the fresh, updated luxury vinyl plank flooring throughout the main family and living rooms great for entertaining or relaxing. The layout includes a formal sitting room, an enclosed Arizona room, and ext bonus spaces that invite creativity and customization. While the kitchen may be ready for a refresh, it's fully functional and waiting for your personal touch. Situated on a quiet cul-de-sac with mature, low-maintenance landscaping and a generous backyard, this home offers great potential in a vibrant 55+ community with access to pools, clubs, and recreation centers. A unique opportunity to own a large home at a great value in Sun City!
Source: ARMLS #6900029
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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.