VA loan
1 of 32
VA loan
$285,000

3103 Cliveden Hts, Colorado Springs, CO 80906

3 beds · 3 baths · sqft

Welcome to your next chapter in Colorado Springs living! This delightful end-unit townhouse offers the perfect blend of comfort and style across 1,450+ square feet of thoughtfully updated space. Step inside and you'll immediately notice the fresh two-tone paint and brand-new flooring throughout, featuring a stylish combination of carpet and luxury vinyl plank. The newly renovated kitchen is a home chef's dream, boasting gleaming stainless-steel appliances and a convenient pantry for all your storage needs. With three bedrooms and two and a half bathrooms, there's plenty of room for everyone to spread out. The bathrooms have been updated with modern fixtures and finishes, giving them a contemporary feel that's sure to impress. The primary bedroom offers a peaceful retreat after a long day. Practical amenities include an in-unit washer and dryer (yes, they're included!), and newly replaced windows that flood the space with natural light while helping with energy efficiency. Step outside to your private patio and fenced yard – perfect for morning coffee, evening relaxation, or letting your four-legged friends explore. Location? It doesn't get much better! You'll be conveniently close to shopping, dining, entertainment, and military bases, making your daily commute a breeze. This end unit gives you the perfect balance of privacy and community living, with all the perks of a recently updated home. Don't miss out on this fantastic opportunity to own a move-in ready townhouse in one of Colorado Springs' most convenient locations!

Estimated
Seller's interest rate
4.49%
7%
Estimated
Monthly payment
$755
$900
You may also save up to $28,912 in total interest paid.
Listing price
$285,000

Your cash down payment
$179,106
Seller’s estimated current equity is $179,106
To assume this mortgage you must cover the seller’s equity by using your cash or by combining your cash with a 2nd mortgage.
Estimated $755 monthly payment

Financed
$105,893
Assumed mortgage 4.49% • Seller's rate
$105,893
2nd mortgage 9.25% • No prepay penalty
$0

Interest rate and monthly payment estimated based on public records.

Roam helps you take over the seller’s lower interest rate 1
We help you assume the seller's mortgage and avoid higher prevailing market rates.

45-day closing guarantee 2
We work directly with the mortgage servicer to help you quickly and easily close the transaction.

VA loan
Eligible for investors
Not a veteran? You may still be qualified to assume the mortgage.
Location
Details
Home
Lot size
0.0227 acres
Year built
2007
Type
Townhouse

Source: PPMLS #3853137

Loan
Remaining term
16 years, 7 months
Rate
4.49%
Monthly P&I
$755
Remaining loan balance
$105,893

Source: Public records

How it works

Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.

Tour

Whether you have an agent or you’re just starting your search, reach out to us and we’ll help set up a home tour.

Offer

Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.

Close

Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.

Who can qualify

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.

Frequently asked questions

What is Roam?

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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.

What is an assumable mortgage?

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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.

Why is an assumable mortgage valuable?

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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.

How can you find assumable mortgage listings?

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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 “Get Notified” 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.

How do I qualify for an assumable mortgage?

expand content

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.

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Last updated: Dec 07, 2024 06:30 am
Listing agent: Todd Hawker (719) 492-4580
Listing provided courtesy of: Action Team Realty (719) 559-8400
Details provided by PPMLS and may not match the public record.
MLS ID: #3853137
The real estate listing information and related content displayed on this site is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This information and related content is deemed reliable but is not guaranteed accurate by the Pikes Peak REALTOR® Services Corp.
Fair Housing Act logo Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.
Disclaimers
1 Roam connects buyers and sellers to homes with assumable mortgages via a concierge service. Roam does not offer or engage in mortgage lending activity.
2 30 day guarantee is subject to credit approval by your loan servicer.
3 The assumable interest rate shown for this assumable mortgage is an estimate using the average of interest rates in this home's area at the time of the last sale. The actual assumable interest rate may differ. Estimated payments do not include taxes and insurance premiums. Actual payments will be greater with taxes and insurance included. Roam connects buyers and sellers to home with assumable mortgages via a concierge service. Roam does not offer mortgage loans, extend credit, make credit determinations, or otherwise engage in mortgage lending or brokering activities. The lender makes all credit and qualification decisions with buyers. Any determination to extend credit to a buyer is a decision by the lender, and not by Roam.
4 The lender makes all credit and qualification decisions with buyers. Any choice to extend credit to a buyer is a decision by the lender, and not by Roam.
$755/mo
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