Views, views, views... this 5 bedroom, walk-out rancher on Pinion Lake will not disappoint! Day or night this gem offers breathtaking views of Pinion Lake, the mountains, the Air Force Academy & Colorado Springs city lights. The bright & open floor plan offers vaulted ceilings, a majestic fireplace, storage built-ins by Closets by design, LVP flooring & wood, plantation shutters throughout. The front room doubles as sleeping or office space adjacent to the main level bath. Imagine cooking your favorite meal in the gourmet kitchen, complete with marble countertops, new Satori marble backsplash, a corner pantry, stainless appliances & gas cooktop, while enjoying the lake front views & wild life. Take in your morning coffee & enjoy the sunrise over the lake, through your kitchen picture window or on your walk-out patio with custom railing & spiral staircase. The primary suite has vaulted ceilings, plantation blinds & electric black out curtains which allow for great views or a much needed sleep in day. Through the sliding barn door is a sleek, modern bath with plenty of natural light, an oversized shower, double sinks & spacious walk in closet. As you reach the lower level you are greeted by a large family room area, with 9' ceilings, wet bar stub outs & amazing views. The lower level walk out patio offers ample covered space for a hot tub, grill & entertaining. There are 3 more bedrooms & full bath on the lower level & while largest bedroom has stunning lake views, the 5th bedroom is extra special. This 5th bedroom has sound proof walls & was added to double as a theater with 80' plasma & surround sound. Behind the barn doors is a custom built "safe room"/closet. Reinforced walls support a pin operated safe door which leads to a 12x11 room, with epoxy floors, lighting, ventilation & additional closet-perfect for wine, firearms or hobby room. Enjoy the big lake, playground, theater, trails & all that the Forest Lake community has to offer. Come take a look today
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.
