Welcome to this unique three-story Carriage House by Oakwood Homes. The sought-after Volante floor plan offers a cool, functional layout designed for effortless everyday living. Step inside to a welcoming entry, where you can head upstairs to the main level. Here, an open-concept design connects the spacious kitchen, large dining area, and inviting great room. The dining area offers a walk-out to the expanded back deck and offers peaceful elevated views of Pikes Peak and the Front Range. Continue upstairs to find three bedrooms, two full bathrooms, and a generous walk-in laundry room. The primary suite is a true retreat with an attached full bath featuring a double vanity, walk-in shower, linen closet, and a large walk-in closet. From the primary bedroom windows, you can also enjoy the same lovely mountain view. A full hall bath serves the two additional bedrooms. Returning to the entry level, head down just a few steps to the bright, above-grade family room. This versatile space can serve as a second living area, home gym, office, or playroom. From here, you’ll also access the two-car garage, mechanical room, and a second walk-out to the backyard. The backyard is fully fenced with privacy vinyl fencing and low-maintenance landscape rock. Throughout the home, you’ll appreciate a long list of upgrades including luxury vinyl plank flooring, granite countertops, upgraded cabinetry, upgraded lighting, transom windows for added natural sunlight, an upgraded appliance package including a gas range, central A/C, a whole-home humidifier, and an expanded back deck. Located in the award-winning Banning Lewis Ranch community, residents enjoy access to parks, playgrounds, walking trails, open green spaces, community events, and the popular recreation center with pool, fitness classes, and more. Convenient to schools, shopping, and major commuter routes, this neighborhood offers a vibrant and welcoming lifestyle.
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.
