1008 Petra Hts, Colorado Springs, CO 80916
3 beds · 3 baths · 1,966 sqft
Welcome home to this almost new townhome in the highly sought after Chapel Heights subdivision! It doesn't get much better than having an end unit AND stunning views of Pikes Peak! Upon entering through your two car attached garage, you will find a very light and bright open concept main floor! The coat closet offers ample under-stair storage. The kitchen has plenty of cabinets, plus a pantry, perfect for all of your culinary needs. Cooking and entertaining are effortless in this open concept layout, which also allows for a sizable dining room table! With plenty of natural light on the main level, as well as a covered front porch, you are sure to find what you are looking for here! Upstairs, you will find a full size laundry room equipped with Wi-Fi enabled washer and dryer and storage shelves in a convenient location to the three bedrooms! Both secondary bedrooms are large with incredible views of Pikes Peak and both also include sizable walk in closets. There is a full size bathroom just outside the bedrooms for convenience. The primary suite is sure to be the selling point on this one! Double the size of most offered by this builder, there is ample room for a bedroom/office combo, a sitting area, or anything your imagination desires! The primary bedroom features a walk in closet as well as an ensuite bathroom with plenty of storage space. You won't want to miss the views and space offered on this one, schedule your showing today! Sellers have an assumable FHA loan at 5.12% - $394,000 is the current balance.
Source: RECO #3714909
Interest rate and monthly payment estimated based on public records.
Source: RECO #3714909
Source: Public records
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
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.
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
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.
What is Roam?
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?
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?
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?
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?
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.
MLS ID: #3714909
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