***New roof to be installed prior to closing.****In 1908 someone stood on a Fort Lupton lot, flipped through a Sears and Roebuck catalogue and chose their dream home. This dream home arrived by train piece by piece and was built right here at 145 S Park Avenue. Thanks to owners who cherished the homes history this home still stands today. It is now ready for it's next owner to cherish it just as much. From the moment you step through the door and sunroom into the original entry with its porthole window and hand-crafted wood trim you will see this is no ordinary Colorado home. Original hardwoods flow through the living, dining and entryway area and continue upstairs. The millwork and woodwork have stood the test of time for 115 years and cannot be replicated for any price in today's market. Flow through the living and dining room with its large bay window and original plaster ceilings into the kitchen where the butler pantry still remains. These butler pantries were a hallmark of 1900's Craftsman style homes. Today it offers bonus counterspace, a spare sink and prep space and storage that new homes could only dream of. At 2600 Square Feet total with 3 bedrooms and 2 bathrooms this home lives large. Large bedrooms with walk in closets and oversized windows, a sun filled enclosed porch and expanded dining area make living in this home easy. You will live in history without living in tight spaces. Outside you will find a generous lot with established trees, garden beds and special places to sit and relax. Fort Lupton sits midway between Denver and Greeley putting Brighton, Longmont, Greeley and DIA all within easy reach. The price reduction just made by the seller shows you how motivated the seller is to find the right buyer. Come See what 115 years of character in the heart of Fort Lupton feels like.
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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