Step into opportunity with this well-sized property nestled within the sought-after Painted Sky/Fountain Valley Ranch neighborhoods of South Colorado Springs. This residence offers a flexible floor plan comprising 4 bedrooms and 3 bathrooms, presented “AS-IS” – an ideal canvas for buyers looking to personalize and add value in a strong South corridor market. Built in 2013, the home sits on an approximately 8,000 sq ft lot and features a thoughtful layout designed for comfortable daily living and entertaining. The main level welcomes you with vaulted ceilings, an open great room and kitchen hub, with easy access to the upstairs primary suit and two additional bedrooms and full bath await. Paired with ample storage and a partially finished basement ready for expansion or recreation. Outside, the generous yard offers space for both play and peace. A blank-slate outdoor setting to dress up into a sophisticated oasis. The surrounding community is a standout for commuters and lifestyle-minded buyers. Fountain Valley/Security-Widefield is known for its access to broad Front Range views, regional parks and trails, and a committed military-connected population seeking value and ease of commute. In fact, residents here benefit from ideally positioned routes to Colorado’s major military installations: about a 10-minute drive to Fort Carson, approximately 15–20 minutes to Peterson Space Force Base, and within reach of the U.S. Air Force Academy. The neighborhood strikes a practical balance, whether you’re an investor seeing upside in a well-located fixer, a buyer planning to refresh and customize, or someone tied to the military seeking a convenient home base, this property delivers. The home is offered AS-IS, allowing you to bring vision and budget into what could become a beautifully updated asset with strong regional appeal. Schedule a showing today and step into this South Colorado Springs home offering potential and location — all in one package.
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.
