A stunning ranch-style home nestled in the highly sought-after Homestead at Sterling Ranch neighborhood in Colorado Springs. Built in 2019 and situated on a beautifully landscaped corner lot, this spacious and thoughtfully designed home offers just under 4,500 square feet of luxurious living space, including 4 bedrooms,(Easily make a 5th bedroom by finishing a spare room in the basement) 4 bathrooms, and a 3-car garage. From the moment you arrive, you'll be captivated by its exceptional curb appeal, open layout, and upscale finishes that perfectly blend elegance with comfort. Inside, the main level features an expansive open floor plan filled with natural light, soaring ceilings, and designer touches throughout. The gourmet kitchen is a chef’s dream, complete with quartz countertops, stainless steel appliances, a large center island, walk-in pantry, and breakfast bar. It flows seamlessly into a sunlit family room with a cozy gas fireplace, and a formal dining room ideal for entertaining. The main-level primary suite serves as a tranquil retreat, featuring a spa-inspired 5-piece bathroom and an oversized walk-in closet. A main-floor laundry room adds everyday convenience. The finished garden-level basement is just as inviting, offering a massive recreation room perfect for movie nights or entertaining, a sleek wet bar with wine fridge, two additional spacious bedrooms with walk-in closets, two full baths, and ample storage space. Whether you’re hosting friends or enjoying a quiet night in, this level offers the flexibility and space to do it all. Step outside to enjoy the best of Colorado living on your private covered patio surrounded by lush, low-maintenance landscaping. The home also comes equipped with central air conditioning. Located within minutes of parks and miles of trails, this home combines the serenity of suburban living with unmatched convenience. Inquire about the assumable loan for further details.
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.
