1168 Basalt Ridge Loop, Castle Rock, CO 80108
4 beds · 4 baths · 3,301 sqft
Get a free consultation call with an expert in the mortgage assumption process.
Welcome home! Walk in and fall in love with the vaulted ceiling entryway, open floor plan, and fantastic neighborhood! The main floor living area is light, bright, and airy. The heart of the home is an ideal entertaining and relaxation space. The kitchen has a beautiful island that is oversized and has plenty of space for a breakfast bar. Ample cabinet space, stainless steel appliances, pantry, and office nook make this space truly inviting. The oversized living room with picture windows and cozy gas fireplace is the ideal spot to unwind at the end of a long day and catch up on your favorite shows. Upstairs, the primary suite is spacious and private with an en-suite bathroom that offers a glass shower, dual sinks, and a walk in closet. Two additional bedrooms and laundry room round out the upper level. In your finished walk out basement, you have high ceilings that make it feel airy and bright matching the vibe of the upper levels. Great room allows for so many different uses; game room, play room, movie theater, home office, or a comibination of all the above. Oversized bedroom and 3/4 bath make an ideal guest space. Ample storage space in the basement round out the interior of the home. Outside, you'll find an oversized deck that provides plenty of room for BBQing and enjoying coffee on the deck. Terrain is located just east of downtown Castle Rock in a master planned community. Come join this vibrant neighborhood that offers 2 community pools, a dog park, tennis courts and walking trails, and a local elementary school.
Source: RECO #9926558
All values shown are estimated costs / mo.
Source: Public records
Source: RECO #9926558
To qualify, you must meet the current FHA or VA 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%. 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.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
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.
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.
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 620, 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.
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