Limited time: Pay only $1,000 to assume a low rate mortgage when you sign a purchase contract between 12/11/24 and 1/10/25 *
VA loan
1 of 64
VA loan
$529,200

4117 Fellsland Dr, Colorado Springs, CO 80922

4 beds · 4 baths · 3,133 sqft

Prepare to be captivated by the allure of a hidden gem nestled in the vibrant city of Colorado Springs. Step inside and be greeted by a grand entrance that sets the stage for the remarkable features that await you. The open-concept design seamlessly connects the living spaces, allowing for effortless flow and creating an inviting atmosphere for both relaxation and entertainment. The heart of the home is the gourmet kitchen, a culinary masterpiece that will inspire your inner chef. Boasting sleek granite countertops, stainless steel appliances, and a double oven, this kitchen is as functional as it is stylish. The abundance of counter space and a large pantry provide ample room for all your culinary creations. Indulge in the luxurious comforts of the master bedroom, a private sanctuary designed for ultimate relaxation. With vaulted ceilings and an abundance of natural light, this room exudes tranquility. The attached 5-piece master bath offers a spa-like retreat, complete with a lavish soaking tub, a separate shower, and dual vanities. The finished basement is a haven of possibilities, offering a versatile space that can be customized to suit your unique needs. Whether you envision a home theater, a fitness center, or a playroom, this space provides endless opportunities for creativity and personalization. Step outside and discover your own private oasis. The expansive patio is perfect for al fresco dining or hosting memorable gatherings with friends and family. Situated on a 6,316 square foot lot, this home offers breathtaking views of the majestic Pikes Peak, providing a constant reminder of the natural beauty that surrounds you. Conveniently located near schools, shopping centers, and recreational activities, you'll have everything you need right at your fingertips. Don't miss out on this opportunity. Schedule a showing today and embark on a journey of luxury living in Colorado Springs!

Estimated
Seller's interest rate
3.63%
7%
Estimated
Principal & interest
$1,375/mo.
$1,842
You may also save up to $119,118 in total interest paid.
Listing price
$529,200

Your cash down payment
$285,048
Seller’s estimated current equity is $285,048
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 $1,375 monthly payment

Financed
$244,151
Assumed mortgage 3.63% • Seller's rate
$244,151
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
0.1452 acres
Year built
2002
Type
Single Family Residence

Source: PPMLS #9928696

Loan
Remaining term
21 years, 3 months
Rate
3.63%
Monthly P&I
$1,375
Remaining loan balance
$244,151

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?

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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 12, 2024 12:28 pm
Listing agent: Richard Riley (334) 414-2811
Listing provided courtesy of: Beck Realty (719) 321-9039
Details provided by PPMLS and may not match the public record.
MLS ID: #9928696
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.
$1,375/mo
View details