**Stunning Home with Modern Upgrades!** Discover your dream home featuring a host of brand-new, fully permitted upgrades designed for comfort and efficiency: -** This home has been modified and upgraded in every way possible. Situated in one of the most desired locations in Colorado Springs, right next to the famous Cottonwood Creek Park with fitness center and water/wave machine park. Awesome central location with easy access to all the military installations as well as I 25. **HVAC System**: Enjoy a state-of-the-art 150 KNTU furnace and a 20 SEER 2 A/C system with a capacity of 22.8 to 54 KBTU ensuring year-round comfort. **Water Heater**: A brand new 50-gallon water heater and steam humidifier provide optimal moisture control throughout the home. **Electrical Upgrades**: Benefit from a new electrical panel with a 200-amp capacity, allowing for electric vehicle charging configurations. **Advanced Duct System**: The Aerosealed duct system ensures you won’t need duct cleaning for up to 40 years, maximizing efficiency and air quality.- **High-Speed Internet**: Enjoy lightning-fast fiber optic internet available through Quantum, perfect for remote work and streaming. - **Greenhouse**: Embrace your green thumb with a brand-new greenhouse, ideal for gardening enthusiasts. **Upgraded/whole house water distribution hoses/pipes. **New Fiber Optic internet available for the highest possible internet speeds. **Freshly cleaned carpets **Vinyl flooring in the entire basement **Walk in closet in basement is attached to bedroom and bathroom. All square footage to be confirmed by buyers/buyers agent This home combines modern technology with comfort and convenience, making it the perfect place to call home. Don’t miss out on this incredible opportunity! ***Agents are related to Sellers***
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.
