A rare opportunity LOCATION LOCATION the mid-century modern you’ve been awaiting! Architecturally distinctive, thoughtfully updated, an ideally located GEM just steps from vibrant Downtown Castle Rock. Perfectly positioned on a desirable corner lot, this completely redone brick ranch showcases stunning interior and exterior upgrades that elevate its mid-century modern vibe — and best of all, NO HOA. Defined by clean rooflines, expansive windows, and a seamless indoor-outdoor connection, this light-filled home embraces the simplicity and functionality of classic mid-century design while offering today’s most desired finishes. Warm hardwood floors flow throughout the main level, enhancing the open, airy layout. At the heart, the stunningly updated kitchen blends timeless character with modern warm vibes featuring quartz waterfall countertops, range and hood, Bosch dishwasher, and a breathtaking stone wall with gas-burning fireplace anchors the eat-in kitchen and living space exuding warmth and a nod to the home’s roots. Recent improvements include a brand-new roof, fully redone landscaping and fencing, radon mitigation system, and extensive additional upgrades throughout. The thoughtfully designed main level offers three spacious bedrooms and two bathrooms, creating comfortable, convenient single-level living with ample storage. The fully finished functional and expensive basement provides exceptional flexibility with a large rec room, a full bedroom, and a bathroom with walk-in shower- this lower level offers abundant additional living space for guests, multigenerational living, work-from-home needs, with generous storage. Enjoy the picturesque Castle Rock backdrop while entertaining on the HUGE resurface rooftop patio with stunning views of “The Rock” structurally built for future expansion capabilities. Unbeatable walkability to downtown restaurants, boutiques, parks, miles of trails, Burgess pool, quick access to I-25 and an easy commute to DTC. $160k in upgrades!
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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