Experience exceptional value and space in this beautiful 5 bedroom, 4 bath home in Southshore, SE Aurora's most desirable residential community, which offers unparalleled private amenities to it's residents. A private home office with dual French doors offers the perfect work-from-home setup right off the entrance. The main floor also features a large living room with surround sound and indoor/outdoor dual-sided gas fireplace that leads guests to the outdoor covered patio that also offers surround sound for those outdoor parties! Enjoy plenty of space to entertain as the deck wraps around the back of the home with another access point in the kitchen! Back inside, the large kitchen showcases quartz countertops, a large center island and stainless steel appliances including a gas range. Upstairs offers four bedrooms and two baths, including the Primary Suite, which is a true retreat, featuring a luxurious ensuite bath and a walk-in closet with custom built-in shelving. Three additional bedrooms upstairs share a secondary bath with dual sinks and tub/shower combo. Downstairs, the finished basement adds even more versatility, perfect for a media room, gym, or extra living space-with built-in cabinetry and bar! With additional flexibility the 5th bedroom, entered by stunning dual sliding barn doors could be used as a second home office, or is the perfect solution for a private guest retreat next to a modern bathroom with large walk-in shower. Additional highlights include a finished, three-car tandem garage with 220V outlet. Southshore offers residents countless amenities including TWO clubhouses-each with their own private fitness center and pools, dog park, a seasonal pond w/paddleboats, free resident access to the Aurora Reservoir as well as miles of trails with countless parks. Situated in a community within walking distance to elementary, middle and high schools in the Cherry Creek School District, this home offers both elegance and practicality for under $700K.
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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