113 Elm St, Fountain, CO 80817
4 beds · 2 baths · 1,431 sqft sqft
Diamond in the rough! Great bones in this 4BR, 2BA, bi-level home located in the established Jensen neighborhood of Fountain. Low maintenance, fully fenced 0.14 acre lot with mature trees and shrubs. Inside you will find central air and heat for year-round comfort. The Living Rm has neutral carpet and a lighted ceiling fan. The Eat-In Kitchen features a vinyl floor and ample cabinets with solid surface countertops for storage and easy food preparation. Appliances include a smooth top range oven, a built-in microwave oven, dishwasher, and refrigerator. The Dining Area has a lighted ceiling fan. There are two Bedrooms with neutral carpet and a Full Bathroom on this level. The Full Bathroom provides a vinyl floor, vanity, mirror, over the toiled cabinet, and tiled tub/shower. The Lower-Level features a spacious, versatile Family/Rec Room with closet and entry to the crawl space. The Laundry Area is located off the Family and includes the washer and dryer. There are two lower level spacious Bedrooms with neutral carpet that have their own separate entrance to a Shower Bathroom with vinyl floor, vanity, and walk-in tiled shower. 1-car attached garage with door opener. The large, fenced backyard includes a storage shed for tools and toys. No HOA. This delightful home is conveniently located close to schools, parks, and shopping. Easy commute to Fort Carson, Peterson Space Force Base, and downtown Colorado Springs. Some cosmetic updating, a little elbow grease, and your own personal touches will make this house shine!
Source: PPMLS #4078642
Interest rate and monthly payment estimated based on public records.
Source: PPMLS #4078642
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: #4078642
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.