Nestled on a large corner lot in the desirable Ridgeview at Stetson Hills community, you’ll love being minutes from schools, parks, dining, shopping, and all the conveniences of the Powers Corridor. As you pull up to the home, you’ll notice the brand-new garage door on the large 2 car garage. Step inside the front door to be greeted by a two-story entry way, creating an open and airy feeling with abundant natural light. The wood floors in the entry extend throughout the entire main level. The kitchen features stainless steel appliances, a pantry, and an eat-in dining area. The bright living room, with a gas fireplace, features 20-foot ceilings, perfect for a tall tree for the holidays! The warmth of the fireplace creates a peaceful atmosphere for relaxing on cold Colorado evenings. Connected to the living room is the formal dining room with French doors to the back yard. The large backyard is fully fenced, has an 11’X10’ concrete patio, and has so much potential to personalize to your needs. Rounding out the main level is a half bathroom for guests. Down half a level from the main level is the large family room and laundry room with shelves. Heading upstairs, the vaulted ceilings in the primary bedroom add great height. The attached bathroom has LVT flooring, double sinks, a standing shower, separate toilet room, and walk in closet. The next upper-level features two additional bedrooms (one with LVP and one with brand new carpet), a full bath, and linen closet. The basement boasts yet another large living space perfect for a home theater and/or playroom as well as the 4th bedroom all with waterproof LVP flooring. Save money on electricity with paid off solar panels! Assumption available!
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.
