Welcome to, your Homestead Retreat in Colorado Springs! Tucked away on a peaceful cul-de-sac, this spacious 4-level home offers comfort, character, and incredible potential. Featuring 5 bedrooms , including a primary suite with a private bath and a separate guest suite, this property is designed to accommodate every stage of life. Inside, you’ll find brand new carpet, stainless steel appliances, central A/C, and generous living spaces that flow naturally across multiple levels. Whether you’re hosting family dinners or enjoying a quiet night in, this home provides the flexibility and warmth that make everyday living easy. Sitting on an expansive 11,200 sq. ft. lot, this property offers plenty of room to enjoy the outdoors. The fully fenced backyard is shaded by mature trees, complete with a classic brick patio and a storage shed, perfect for outdoor entertaining, gardening, or relaxing in your own private retreat. Looking for schools? No problem just around the corner, Doherty High School is within walking distance and Ruby Elementary less than a mile away, morning routines and after-school activities are a breeze. Conveniently located just minutes from Powers Blvd, you’ll have quick access to dining, shopping, and entertainment while still enjoying a quiet neighborhood feel. Discover the comfort, space, and potential that makes this Homestead Hideaway truly special, a place to call home in the heart of Colorado Springs. Don’t wait, homes like this don’t stay hidden for long! Schedule your private showing 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.
