Generously positioned in a peaceful, family-oriented enclave of Castle Rock, 1192 Purple Sage Loop offers a well-arranged home that features six bedrooms and four bathrooms, thoughtfully designed for comfort, convenience, and everyday living on a very large lot. As you step through the front door, you’re welcomed by formal entry and spiral staircase that leads you to a bright living area where large windows invite abundant natural light, and accentuate the warm, neutral-toned flooring, vaulted celings and finishes setting a cozy, homey tone throughout. The living spaces flow easily from one room to the next, with the kitchen offering ample cabinetry and counter space, a layout ideal for meal preparation and gatherings with family or friends, the breakfast bar seats up to six and there is a secretary desk nearby. The bedrooms are comfortably sized, with the primary suite featuring a sitting area, pass-through fireplace and large walk-in closet. Most of the additional bedrooms enjoy large closets as well. The finished basement features an open fam-cave , wet bar and good sized bedroom with private, full bath, functioning as a second Primary suite. The home’s efficient layout includes a dedicated laundry area on the main level and a storage room in the basement. The home features three fireplaces, one in the family room, one in the primary suite and one on the back patio. Outside, the property enjoys a very large backyard private patio with outdoor fireplace, horseshoe pit with electric power and bluetooth speakers, and it backs to unimproved land where cows sometimes graze. Ideally located, this home sits within easy reach of the amenities and attractions that make Castle Rock a desirable place to live: residents have access to nearby open spaces, scenic trails, and so much more.The proximity to both green-space and town-center amenities makes 1192 Purple Sage Loop a comfortable, well-rounded home in one of Castle Rock’s welcoming neighborhoods..
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.
Yes. Non-veterans can assume a VA loan, provided they meet the lender’s VA criteria. When a qualified buyer assumes a VA mortgage from a veteran or active-duty service member, the seller’s VA loan entitlement remains tied to the assumed loan until the buyer pays off or refinances the loan. This process restores the veteran seller’s entitlement, enabling them to use their VA benefit for a future home purchase.
Yes. All FHA loans are assumable by law as long as the buyer meets the FHA’s credit, income, and qualification requirements and obtain lender approval before assuming the loan (per FHA regulations effected December 15, 1989). Roam makes this process simple for buyers.
Generally, conventional loans are not assumable. In rare cases, a conventional loan may be assumable with lender approval. Use our search tool to find homes with assumable low-rate loans, or reach out to us if you’d like to confirm a specific home’s assumability.
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