VA loan
1 of 24
VA loan
$475,000

6194 John Muir Trl, Colorado Springs, CO 80927

3 beds · 3 baths · 2,272 sqft

Welcome home to this amazing three bedroom, 2.5 bath home located in the desired Banning Lewis neighborhood offering ample space and comfort. Open floor plan on main level from kitchen, dining and family room. There is a large island in kitchen with plenty of space for meal prep or to use as an eat-in area. This home includes spacious bedrooms as well as large bathrooms and plenty of closet space. Banning Lewis offers a Clubhouse with 24-hour fitness room, Jr. Olympic heated pool, splash park, pickle ball courts, 60+ acres of hiking trails and parks, trash removal, recycling services, snow removal included. Two car garage and fenced back yard. Lower basement has walkout to backyard which is perfect for kids or pets. Home has new HVAC unit and new water heater (September 2024) Home is situated in a prime location and is close to nearby military bases (Ft Carson, Peterson Space Force Base and Schriever Space Force) for easy commute and located close to shopping and great schools. Schedule a showing today!

Estimated
Seller's interest rate
2.75%
7%
Estimated
Monthly payment
$1,824
$2,862
You may also save up to $334,033 in total interest paid.
Listing price
$475,000

Your cash down payment
$59,743
Seller’s estimated current equity is $59,743
To assume this mortgage you must cover the seller’s equity by using your cash or by combining your cash with a 2nd mortgage.
Estimated $1,824 monthly payment

Financed
$415,256
Assumed mortgage 2.75% • Seller's rate
$415,256
2nd mortgage 9.25% • No prepay penalty
$0

Interest rate and monthly payment estimated based on public records.

Roam helps you take over the seller’s lower interest rate 1
We help you assume the seller's mortgage and avoid higher prevailing market rates.

45-day closing guarantee 2
We work directly with the mortgage servicer to help you quickly and easily close the transaction.

VA loan
Eligible for investors
Not a veteran? You may still be qualified to assume the mortgage.
Location
Details
Home
Lot size
0.0677 acres
Year built
2017
Type
Single Family Residence

Source: PPMLS #3618085

Loan
Remaining term
26 years, 10 months
Rate
2.75%
Monthly P&I
$1,824
Remaining loan balance
$415,256

Source: Public records

How it works

Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.

Tour

Whether you have an agent or you’re just starting your search, reach out to us and we’ll help set up a home tour.

Offer

Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.

Close

Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.

Who can qualify

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.

Frequently asked questions

What is Roam?

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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.

What is an assumable mortgage?

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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.

Why is an assumable mortgage valuable?

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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.

How can you find assumable mortgage listings?

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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 “Get Notified” 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.

How do I qualify for an assumable mortgage?

expand content

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.

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Last updated: Dec 06, 2024 12:35 am
Listing agent: Gloria Martinez (910) 723-5626
Listing provided courtesy of: Realty One Group Apex (833) 764-2739
Details provided by PPMLS and may not match the public record.
MLS ID: #3618085
The real estate listing information and related content displayed on this site is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This information and related content is deemed reliable but is not guaranteed accurate by the Pikes Peak REALTOR® Services Corp.
Fair Housing Act logo Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.
Disclaimers
1 Roam connects buyers and sellers to homes with assumable mortgages via a concierge service. Roam does not offer or engage in mortgage lending activity.
2 30 day guarantee is subject to credit approval by your loan servicer.
3 The assumable interest rate shown for this assumable mortgage is an estimate using the average of interest rates in this home's area at the time of the last sale. The actual assumable interest rate may differ. Estimated payments do not include taxes and insurance premiums. Actual payments will be greater with taxes and insurance included. Roam connects buyers and sellers to home with assumable mortgages via a concierge service. Roam does not offer mortgage loans, extend credit, make credit determinations, or otherwise engage in mortgage lending or brokering activities. The lender makes all credit and qualification decisions with buyers. Any determination to extend credit to a buyer is a decision by the lender, and not by Roam.
4 The lender makes all credit and qualification decisions with buyers. Any choice to extend credit to a buyer is a decision by the lender, and not by Roam.
$1,824/mo
View details