2804 Highway 83 Elgin, AZ 85611
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About this home
Welcome to 2804 Highway 83 in the heart of Sonoita, Arizona—an exceptional opportunity offering flexibility, space, and the peaceful lifestyle that southern Arizona is known for. This charming 4-bedroom, 3-bathroom home sits on a total of 8.18 acres, which includes the sale of the adjacent 5-acre parcel, providing ample space for horses, a hobby farm, vineyard, or future development. Spanning 2,478 sq ft, the home is thoughtfully designed for versatility with two fully functional levels. The main floor offers a spacious layout with comfortable living areas, a well-equipped kitchen, and expansive views of the surrounding grasslands and mountains. Downstairs, the lower level features a private entrance, kitchenette, and dedicated heating and cooling systems, making it ideal for multi-generational living, long-term rental income, or short-term vacation stays in Sonoita wine country. Outside, the property is fully fenced, features a storage shed, milking barn, chicken coop, and two covered stalls, and is equipped with a private well and well house, providing you with the privacy, independence, and space to enjoy the country lifestyle truly. Just minutes from local wineries, shops, and trails, and with easy access to Highway 83, this property offers both seclusion and convenience. Whether you're looking for a full-time residence, an investment property, or a getaway in one of Arizona's most scenic regions, this property is packed with potential. Experience the beauty, space, and freedom of life in Sonoita!
Source: ARMLS #6894545
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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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