40657 W Somers Dr Maricopa, AZ 85138
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About this home
NEW PRICE...Welcome to this beautiful single-level KB Home in the desirable Homestead North community. Built in 2019, this 3-bedroom plus den, 2-bath home offers an open and functional floor plan with 1,862 sq. ft. of living space. Plus this home comes with the option of an assumable loan at 2.75% offering potential savings for qualified buyers. The kitchen is a true highlight with granite countertops, a large center island, pantry, gas cooktop, and included refrigerator—perfect for entertaining and everyday living. The spacious great room flows seamlessly from the kitchen, creating an inviting gathering space. Situated on a 8,700+ sq. ft. lot, the backyard is a blank canvas ready for your personal touch and virtual landscaping images have been provided for inspiration. Enjoy Arizona living with a covered patio, north/south exposure, and low-maintenance desert front yard. The primary suite features a walk-in closet and full ensuite bathroom, while the additional bedrooms are generously sized. A versatile den provides the perfect spot for a home office, gym, or playroom. Additional features include tile flooring, dual-pane windows with solar screens, fire sprinkler system, ceiling fans, and a 2-car garage. Washer and dryer are also included. Located within walking distance to community parks, playgrounds, and scenic trails, and just minutes from schools, shopping, and dining. Plus this home comes with the option of an assumable loan at 2.75% offering potential savings for qualified buyers. Offered at $375,000, this home combines comfort, style, and value in a growing community.
Source: ARMLS #6905667
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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.