4887 E Comanche Dr Cottonwood, AZ 86326
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About this home
Priced under pre-appraised value for buyer peace of mind, there is much to love about this large two story, elevated home on one of the most desired streets along the Verde River greenbelt; including complete living upstairs and additional in-law suite downstairs. Upstairs features a full 3 bedrooms and 2 baths, including the primary ensuite with two closets. The living space creates a great flow for entertaining or a busy daily life. The kitchen is bright with a comfy window nook, eat-in breakfast bar & two pantries. A sleek, two-sided, fire place brings ambiance into the living and dining room while two sets of French doors extend onto the second story patio, opening to views of Mingus Mountain where you can enjoy the cooler evening temperatures near the river. Downstairs includes a 4th bedroom & 3/4 bath with additional living/media space & set up for a kitchenette. This space adds functionality as you may access it from either inside the home or, for added privacy, separate entry and a lower paver patio. This property includes a fenced yard, oversized 3 car garage, and 3 driveways providing space for all the toys. It is located just blocks from Verde River access (inquire about the affordable & transferable FEMA flood insurance policy) & includes the sparkling pool to cool down during our AZ summers. All w/ no HOA, many dynamics are well suited for this home; full-time living, live up top and rent the bottom, or short-term rental potential. Located in the center of the Verde Valley, easily access 1-17 or Hwy 89A for a quick drive to Sedona, Flagstaff, or Phoenix.
Source: ARMLS #6903780
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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.