Discover this stunning, custom home nestled in the scenic surroundings of Colorado Springs on a pristine half-acre corner lot. You'll be captivated at first glance by its impressive curb appeal, complete with a circular driveway, an expanded 3-car garage, and striking brick and black cedar trim exterior. A delightful front porch is framed by mature trees, welcoming you into a home that perfectly blends comfort, style, and timeless charm. The heart of the home is a newly remodeled kitchen, showcasing a cedar live edge island, sleek epoxy countertops, and premium appliances seamlessly connecting to the family room and formal dining area, which features a bay window that fills the space with abundant natural light. The main floor also includes newer Pella windows and doors, a cozy seating area with stunning wood floors and a wood-burning brick fireplace, a laundry room, and a versatile bedroom or office with a remodeled full bathroom, perfect for accommodating guests. Outside, your private half-acre oasis awaits, complete with an enclosed sun room, custom-stamped patio with a fire pit area, a beautiful koi pond, two large sheds and lush mature landscaping, creating a perfect ambiance for outdoor gatherings. Head upstairs to the expansive primary suite with access to a new Trex deck balcony for serene mountain views complemented by three additional bedrooms that share a full bath. The completed basement provides flexible space for customization, featuring a non-conforming bedroom that enhances the property's appeal with its abundant potential. The Bridlewood neighborhood is known for its spacious lots, beautiful mountain views, and family-friendly atmosphere and is conveniently located to military bases, shopping, highly-rated schools including the new Thomas MacLeron school and attractions like Garden of the Gods and Pikes Peak. Experience modern living and outdoor tranquility in this exceptional home. Begin making memories in your dream home 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.
