Best of both worlds! Single Family Residential Style Home but legally described as a Townhome. No shared walls and a .16-acre lot. The homeowner’s association covers grounds maintenance and snow removal up to your front door, trash removal and contributes a portion toward the cost of exterior trim paint. The neighborhood includes access to a common area gazebo, ideal for gatherings or to simply relax in the fresh air. This charming 3-bedroom, 2-bathroom home boasts 1,588 square feet of finished living space. Step inside to discover thoughtful updates like newer windows throughout, updated light fixtures, updated ceiling fans, brand new radon mitigation system, decorative wood accents, and custom touches throughout. The kitchen is bathed in natural light thanks to an added solar tube and offers a cozy, custom-built dining space—perfect for your morning coffee or a lively gathering around the table. Downstairs updated LVP style flooring adds style and durability while you enjoy the warmth that radiates from the room's pellet stove. The primary bedroom and bathroom have also been refreshed, including a recently updated walk-in shower. The finished basement offers multiple use opportunities and could even be used as a (non-conforming) 4th bedroom. Outside, enjoy your private fenced patio with convenient gated access to the neighborhood RV and storage parking lot. As a bonus, you’re close to many local amenities, CSU Pueblo campus and Walking Stick Golf Course. You're under half a mile from University Park and a short drive to Natural Grocers, the Pueblo Mall and other popular shopping, dining, and entertainment amenities. With a newer roof and whole-house humidifier, this home offers comfort and convenience. Whether you’re looking for your first home or your new home, this property accommodates your needs in a well-kept community!
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.
