745 N Las Flores Dr Oracle, AZ 85623
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About this home
Charming 4-Bedroom Home on over 1/4 Acre - No HOA - Prime Oracle Location!Welcome to your peaceful high desert retreat in the rapidly growing town of Oracle, AZ!This spacious 2-story, 4-bedroom, 1.5-bath home sits on a generous 1/4-acre lot with NO HOA--offering freedom and flexibility that's hard to find. Plenty of space for RV parking, boats, etc...Step inside to enjoy vinyl flooring, quartz countertops, and new cabinetry in the bathrooms. The kitchen is equipped with sleek stainless steel smart appliances, perfect for modern living.A lower-level open floor plan provides a light and bright, airy feel--ideal for both relaxing and entertaining.Out back, unwind on your private patio complete with a tranquil pond and water feature. A tool/work/handyman shed adds extra convenience for projects or storage. Currently generating income for a savvy seller - close proximity to lavender farm, Biosphere, Ziplining and the backside of Mount Lemmon! (Note: Contents available to keep it up and functional as investor Short-Term Rental!)
Source: SOUTHAR #22515843
Loan details
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Close stress-free in 45 days, handled start to finish by Roam.
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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.