1061 Toms Ranch Rd, Lake George, CO 80827
2 beds · 2 baths · 1,248 sqft
Pike Forest Paradise Custom, well-built ranch house nestled in the towering ponderosa pines and hidden on a beautiful 20 acres parcel. Featuring a common border of the 1,000,000-acre Pike National Forest is truly a sportsman’s paradise. No covenants or HOA’s. Located only 10 minutes from 11 Mile Canyon for 6 miles of public trout and pike fishing know as one of the most beautiful canyons in Colorado. Only 30 minutes from 11 Mile, Spinney Mountain Reservoirs as well as the world-renowned Dream Stream, all three are known for producing rainbow and brown trout that exceed 10 lbs. The ranch house features an open concept, and the living room has a beautiful moss rock fireplace with a wood burning insert to keep the utilities low. On the main level is the dining room, kitchen, two bedrooms and a full bath. Off the living room is a beautiful cozy sunken sunroom to enjoy your morning coffee. This mini ranch is well equipped with 30x40 heated building set up for a custom woodworking business. There is also an apartment above the garage that the sellers store a year’s supply of food. In addition, there is a green house and garden. There is a 30x40 pole barn to store the tractors, toys and boats. You can ride ATV’s on miles and miles of national forest roads directly from the ranch eventually landing on the South Platte River featuring miles of public trout fishing. The national forest bordering the ranch are 3 Trophy Game Management Units. The first is GMU 511 offering over the counter yearly elk tags in archery 2nd and 3rd season. The 2nd and 3rd GMU’s are 51 and 501 both draw units. All three GMU’s offer excellent big game hunting that are known to produce trophy elk, moose, and mule deer hunting. Bring you family to see the one-of-a-kind sportsman’s paradise.
Source: PPMLS #7824648
Interest rate and monthly payment estimated based on public records.
Source: PPMLS #7824648
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: #7824648
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